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# Chap: 3 Inventory Q. What are the various costs associated with inventory?

Explain the EOQ model with its limitations. [May 2003] [15] Q. Write short note- ABC analysis. [May 2003][Dec 2003] [May 2004][05] Q. Write short note- Need of Inventory. [Dec 2003][05] Q. What is EOQ? Derive the formula to calculate EOQ. A company uses casting in the manufacturing of pumps. The consume 300 casting every month, each casting costing Rs. 1000/- . The inventory carrying cost is 1.5% per month of the average inventory investment and order placement cost is Rs.36/- per order. Calculate a] EOQ b] If the lead time is 2 months, what quantity should be ordered per month? c] If supplier of casting offers a quantity discount of 10% if the minimum order is 1000 should the buyer accept discount? [Dec 2003][15] Q. a] Explain EOQ using suitable graph. State the assumption governing the basic EOQ formula. [08] b] A manufacturer of electrical equipments requires special type of electrical switches, 300 in number per year. Each switch costs the company Rs.36. the procurement cost and the inventory carrying cost have been calculated as Rs.30 per order and 20% respectively. If the supplier offers a discount of Rs.2 per switch on an order quantity of 200 and above, should the offer accepted? [07] [May 2004] [15] Q. What are the advantages and disadvantages of holding inventories? What is meant by inventory control? Discuss in brief various techniques of inventory control. [May 2005][15] Q. Define- Inventory. Explain application of ABC analysis with the help of suitable example. [Dec 2005][15] Q. Define- Inventory. Can an Organization function with zero inventory? Explain the cost associated with inventory. [May 2006] [14] Q. Explain how inventory can be controlled using EOQ model and ABC analysis. [May 2006] [14] Q. What is the basic premise of ABC? Explain the steps for making ABC Inventory analysis giving examples. [Dec 2006][14]

Q. Explain with examples how classification of materials helps better management of inventory. [May 2007][14] Q. Explain effect of high inventory on the followinga] Meeting delivery dates. b] Profitability. c] Quality of finished goods. [May 2007][14] Q. Write short note- Stock out cost. [May 2007][07] Q. What is the main objective of inventory management? Discuss the merits & demerits of having very large Inventory of Raw materials, work in process and finished Goods. [Dec 2007][14] Q. Write short note- Classification of inventory. [Dec 2007][07]

Q. Explain all types of inventory and write the implication of each type if it is very high in monetary value. [May 2008][14] Q. Enumerate various methods of inventory analysis and explain how these helps in materials management. [May 2008][14] Q. a] State the purpose and describe limitations of EOQ model. b] Explain the impact of high inventory of finished goods on Profitability and Delivery. [Dec 2008][14] Q. Describe in brief basis and application of ABC, FSN and VED analysis. [Dec 2008][14] Q. Write short note- Zero inventory. [07] [Dec2008]

Q. a] Explain which decision materials manager can make using EOQ model. State the benefits of EOQ model. b] Discuss the impact of high work in progress inventory on product quality and delivery. [May 2009][14] Q. ABC analysis and EOQ analysis are complementary to each other. Comment. [Dec 2008][14]

Q. What is the main objective of inventory management? Discuss the merits & demerits of having very large Inventory of Raw materials, work in process and finished Goods . Explain all types of inventory and write the implication of each type if it is very high in monetary value b] Discuss the impact of high work in progress inventory on product quality and delivery [May 2009] b] Explain the impact of high inventory of finished goods on Profitability and Delivery Q. Write short note- Classification of inventory [Dec 2007][07] Soft copy What are the advantages and disadvantages of holding inventories? What is meant by inventory control? Discuss in brief various techniques of inventory control. [May 2005][15] a] State the purpose and describe limitations of EOQ model. a] Explain which decision materials manager can make using EOQ model. State the benefits of EOQ model. [May 2009] ppt . Define- Inventory. Explain application of ABC analysis with the help of suitable example. [Dec 2005][15] What is the basic premise of ABC? Explain the steps for making ABC Inventory analysis giving examples. [Dec 2006][14] Enumerate various methods of inventory analysis and explain how these helps in materials management. Q. Describe in brief basis and application of ABC, FSN and VED analysis. L.C Jhamb P.N 292-312

Q. Define- Inventory. Can an Organization function with zero inventories? Explain the cost associated with inventory. [May 2006] [14] Q. Write short note- Zero inventories. [Dec2008][07] Soft copy Explain how inventory can be controlled using EOQ model and ABC analysis. [May 2006] [14] Q. ABC analysis and EOQ analysis are complementary to each other. Comment. [Dec 2008][14]