Monitoring and Managing the Work Flow at Each Work Centre

question 30

Multiple Choice

Monitoring and managing the work flow at each work centre on the shop-floor of a production facility is called:

• A)lot sizing.
• B)inventory turnover.
• C)daily dispatch lists.
• D)Gantt chart.
• E)Input/output (I/O)control.

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Definitions:

Inventory Cost Flow Assumption

A method used in accounting to determine the cost of goods sold and ending inventory value, examples include FIFO, LIFO, and average cost methods.

LIFO

An accounting methodology where the most recently produced or acquired inventory items are recorded as sold first.