If the cost of direct material is 60%, direct labor is 10%, and overhead is 25%of sales what will be the improvement in profit if direct material is reduced to 55%?

• A.No improvement
• B.4%
• C.5%
• D.3%

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A calculated extra amount of stock carried and is generally used to protect against quantity uncertainty in known as:

• A.Average stock
• B.Secure stock
• C.All of the above
• D.Safety stock

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Which of the following is NOT categorized modeling approaches in SCM?

• A.None of these
• B.MIP Optimization Modeling:
• C.Supply Chain Network Design Method:
• D.Heuristic Methods:

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Master scheduling tries to level capacity and just-in-time tries to level the schedule based on capacity and material flow.

• A.True
• B.False

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The concept of removing faults at the first instance and making a process or product "fool proof" is known as:

• A.None of the above
• B.Scrap step
• C.Poke-yoke
• D.Statistical sole

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