Quiz: Re-order Level, Lead Time, Buffer Stock and Minimum Stock Level
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Building on what you've learned about stock control, let's test your knowledge of re-order level, lead time, buffer stock, and minimum stock level!
What does the term 're-order level' refer to?
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Which of the following are true about lead time? (Select all that apply)
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The {{blank0}} is the extra stock held to meet unexpected demand or delays in delivery. This ensures the business avoids {{blank1}}.
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Match the items on the left with their correct pairs on the right
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A business has a daily usage of 50 units and a lead time of 5 days. What is the re-order level?
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Which of the following best describes 'minimum stock level'?
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Why might a business hold buffer stock? (Select all that apply)
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The {{blank0}} is the time taken between placing an order and receiving it, while the {{blank1}} is the stock level at which new orders should be placed.
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Match the items on the left with their correct pairs on the right
A business uses 40 units daily and its lead time is 10 days. If it wants a buffer stock of 80 units, what should the re-order level be?
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