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Which of the following is the minimum aisle width for using standard counterbalanced forklifts?
Minimum open aisle width for standard counterbalance forklift is 10.5-13.1 ft. You can look at the minimum aisle width for different equipment here, or calculate yourself with an instruction here.
LO 1, AC 1.3
An organisation might find it more beneficial to lease and use an asset over a predetermined period. After this period, the lessee has the right to secure an outright ownership of the asset by paying an agreed amount; otherwise, the asset would be repossessed by the lessor. Which of the following is an advantage of leasing?
The size of order that minimises the total cost of acquiring and holding stock is known as...
An organisation may incur additional costs in stockout events. Which of the following is an exam-ple of costs of inventory stockouts?
Stockout is a situation where an inventory item is not available when required. The costs associated with a stockout include the following:
- Lost of production output - there will be no production until the stockout is resolved (new stock is acquired). For factory operating 24/7 with no spare capacity, this lost output will not be able to be recovered.
- Costs of machine downtime and of overhead spread over a reduced level of output
- Costs of any action required to deal with the stockout...
- Loss of customer goodwill through inability to supply or late delivery
- Loss of sales or new orders
- Loss of market creditability
LO 2, AC 2.2
Which of the following is the formula for calculating the re-order level?
In management accounting, reorder level (or reorder point) is the inventory level at which a com-pany would place a new order or start a new manufacturing run.
Reorder level depends on a company's work-order lead time and its demand during that time and whether the company maintain a safety stock.
If a company maintains a safety stock, reorder level calculation changes are follows:
Reorder Level = Average Demand Lead Time + Safety Stock
LO 2, AC 2.3
