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CIPS Level 3 Mod 2 Part 3 Questions And Answers With Verified Solutions Already Passed!!!
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CIPS Level 3 Mod 2 Part 3 Questions And Answers With Verified Solutions Already Passed!!!
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CIPS Level 3 Mod 2 Part 3 QuestionsAnd Answers With Verified Solutions
Already Passed!!!
Lead time - ANSWER✔✔total amount of time that is required to manufacture item
Internal lead time - ANSWER✔✔time it takes from a requisition being raised to
the order being placed with the supplier
MRP main objectives - ANSWER✔✔- Ensure parts or materials are available
- Plan production
- Keep inventory low as possible
Internal lead time includes - ANSWER✔✔- Internal automated/manual process
- Efficiency of workforce
- Supplier database
- Attention to detail
External lead time - ANSWER✔✔time it takes from placing the purchase order to
when the goods are physically received
External lead time includes - ANSWER✔✔- Raw material availability
- Supplier capacity
- Supplier relationships
- Contracted terms
- Transport
- Cost
- Force majeure
- Organisational efficiency
Total lead time - ANSWER✔✔complete amount of time it takes from the initial
identification of the need to when the goods are physically available for the
organisation to use.
Expediting - ANSWER✔✔process where an individual tracks the progress of an
order from being received with the supplier to when the goods or services are
physically delivered
, Expediting tracks - ANSWER✔✔- Receipt of order
- Manufacturing of the order
- Shipment of the order
- Delivery of the order
Delivery performance - ANSWER✔✔how well a supplier meets the requirements
of the buyer regards to delivering on time and in full
JIT - ANSWER✔✔a system that works alongside lean manufacturing. In order to
reduce waste in the supply chain. Makes sure that stock is not held unnecessarily
Kanban - ANSWER✔✔instructions are sent from one operation to the next on a
card, including specific items and quantities. Aim is to reduce waste through over
production
Price - ANSWER✔✔physical amount of money paid for a product or service
Costs - ANSWER✔✔total expense incurred in obtaining the product or service
Total cost of acquisition (TCA) - ANSWER✔✔how much a product or service
costs an organisation to obtain
Total cost of ownership (TCO) or Total life of costing - ANSWER✔✔relates to
additional associated costs, includes additional costs that will be incurred through
the life of the purchase
Solutions to learning an order is going to be delayed - ANSWER✔✔- Part
shipment
- Alternative product
- Change to buyers production schedule to accommodate the delay
Solutions to learning an order will be early - ANSWER✔✔- Delivery to another
location
- Delayed payment
- Change to buyers production schedule to accommodate
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