APICS Certified in Production and Inventory Management - CPIM Exam Practice Test
Annual cost of pacing orders and annual cost of carrying inventory, together forms:
Correct Answer: C
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Preventive maintenance plus continuing efforts to adapt, modify, and refine equipment to increase flexibility, reduce material handling, and promote continuous flow, is called:
Correct Answer: C
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The formula to calculate the period-order quantity is:
Correct Answer: B
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Inventories are part of planning process and provide buffer against:
Correct Answer: B
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Which of the following strategic option/s is/ are used as success criteria for a corporate strategy?
Correct Answer: A
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What is the updated forecast, utilizing exponential smoothing, given the following data?
Old Forecast = 100, actual demand = 80, alpha = 0.2, tracking signal = 0.9
Old Forecast = 100, actual demand = 80, alpha = 0.2, tracking signal = 0.9
Correct Answer: B
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Assemble- to-order is a subset of make-to-order. Which of the following is needed to make a production plan for make-to-order products?
Correct Answer: A
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Suppose company manufactures paint from a base color and adds tints to arrive at the final color. Suppose there are 10 tints and a final color is made by mixing any three of them with the base. There are 70 possible colors (10*9*8=720). Forecasting and planning production for 720 items is a difficult task. It is much easier if:
Correct Answer: B,C
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A price that is competitive, gives the seller a profit, and allows the buyer ultimately to sell at a profit is known as:
Correct Answer: D
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The information for quantities required in manufacturing, planning and control system will come from all of these EXCEPT:
Correct Answer: D
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