Finished goods inventory is the portion of fluctuation inventory that remains unused in order to fill unexpected demand for products.Finished goods inventory is the portion of fluctuation inventory that meets the anticipated customer demand for products.From the following answer choices, pick the definition that best describes the category of “finished goods inventory.” Fluctuation inventory refers to the ratio of difference between high and low production outputs of finished productĤ.Fluctuation inventory is the same as safety stock, or that part of finished goods used to fill spikes in demand for the finished product.Fluctuation inventory is the same as pipeline inventory.Fluctuation inventory is the portion of finished goods inventory that is apportioned to customer demand.From the following answer choices, pick the definition that best describes the category of “fluctuation inventory.” APICS is the acronym for the Association of Production, Inventory, and Control Suppliers, with the aim of licensing suppliers who meet certification requirementsģ.APICS means American Production and Inventory Control Society and provides consulting services to the U.S.APICS provides CPIM certification and refers to the Association of Operations Management.The Association for Production, Investment, and Control Society purports to provide certifications with the aim of increasing corporate profits by reducing inventory and supply chain costs.With respect to CPIM, which of the following defines and gives the chief aim of APICS? Setup costs are highest at the beginning of a manufacturing runĢ.Inspection costs accrue as materials or unfinished products are delivered.Product lead times are shorter initially, so more inventory is required.Inventory costs are likely to be higher in the initial phases of a manufacturing process because This exam consists of 105 multiple-choice questions, 80 of which are scored and 25 that are not scored, related to basic business concepts, demand planning, the Just-in-Time (JIT) system, manufacturing resource management, transforming supply into demand, supply system management techniques including capacity management, and total quality management. However, in order to receive the certification, the individual must pass all five CPIM exams.
PIPELINE INVENTORY DEFINITION HOW TO
This certification can be extremely useful as a resume-builder for individuals in the manufacturing and warehousing industries as it demonstrates to potential employers that the individual has an in-depth knowledge of how to manage the manufacturing process and the distribution of various products and services.
The CPIM Basics of Supply Chain Management Exam is the first of five exams created by the Association for Operations Management, also known as APICS, that are administered by Promissor and are required in order for an individual to receive a Certification in Production and Inventory Management.
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