SS2 Third Term Store Management Past Questions And Answers (Objective and Theory)

 

20 multiple-choice questions for Senior Secondary School 2 (SS2) third term store management, along with options and answers:

 

Section A: Multiple Choice (Third Term)

What is the primary purpose of implementing stock rotation in store management?

A) Maximizing holding costs

B) Minimizing order quantity

C) Reducing stockouts

D) Managing perishable goods

Answer: D) Managing perishable goods

In store management, what does the term “Cross-Docking” refer to?

A) Rotating stock regularly

B) Direct transfer of goods from inbound to outbound shipments

C) Implementing ABC analysis

D) Calculating Economic Order Quantity (EOQ)

Answer: B) Direct transfer of goods from inbound to outbound shipments

Which of the following is a benefit of using cloud-based inventory management systems?

A) Increased implementation costs

B) Limited accessibility

C) Real-time data access from anywhere

D) Dependency on manual record-keeping

Answer: C) Real-time data access from anywhere

What is the role of a perpetual inventory system in minimizing stockouts in store management?

A) Preventing stockouts

B) Calculating Economic Order Quantity (EOQ)

C) Recording transactions continuously

D) Rotating stock

Answer: A) Preventing stockouts

Which of the following is a factor to consider when determining optimal order quantity using the EOQ model?

A) Demand variability

B) Lead time

C) Reorder point

D) Carrying costs

Answer: A) Demand variability

In store management, what does the term “Shrinkage” refer to?

A) Increase in inventory levels

B) Decrease in inventory levels

C) Loss of inventory due to theft, damage, or error

D) Efficient stock turnover

Answer: C) Loss of inventory due to theft, damage, or error

Which of the following is a disadvantage of a perpetual inventory system?

A) Real-time tracking

B) High implementation costs

C) Reduced data accuracy

D) Dependency on manual counting

Answer: B) High implementation costs

What is the purpose of implementing a centralized approach in store management?

A) Enhanced local market knowledge

B) Improved coordination and control

C) Increased transportation costs

D) Reduced lead time

Answer: B) Improved coordination and control

Which of the following is a characteristic of an efficient inventory turnover ratio?

A) Low ratio

B) Constant ratio

C) High ratio

D) Fluctuating ratio

Answer: C) High ratio

What role does order quantity play in minimizing carrying costs in store management?

 

A) Increasing carrying costs

B) Minimizing carrying costs

C) Maximizing stockouts

D) Enhancing lead time

Answer: B) Minimizing carrying costs

In inventory management, what does the term “Dead Stock” refer to?

 

A) Fast-moving items

B) Slow-moving items

C) Expired or obsolete items

D) Perishable goods

Answer: C) Expired or obsolete items

What is the significance of the Economic Order Quantity (EOQ) model in store management?

 

A) Maximizing ordering costs

B) Determining optimal order quantity

C) Increasing lead time

D) Reducing stockouts

Answer: B) Determining optimal order quantity

Which technology plays a crucial role in improving order accuracy in stores?

 

A) RFID

B) Barcoding

C) Perpetual inventory system

D) ABC analysis

Answer: B) Barcoding

In store management, what does the term “Stock Holding” refer to?

 

A) Inventory turnover

B) Carrying costs

C) Holding and storing inventory

D) Real-time tracking

Answer: C) Holding and storing inventory

Section B: Theory Questions (Third Term)

Explain the concept of “Cross-Docking” in store management and its benefits.

 

Discuss the role of cloud-based inventory management systems in improving overall store efficiency.

 

Explain the term “Shrinkage” in store management and how it can be minimized.

 

Discuss the factors influencing the optimal order quantity in the Economic Order Quantity (EOQ) model.

 

Examine the impact of technology, such as barcoding, on the accuracy of order fulfillment in stores.