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CIMAPRO19-P02-1 Exam - Topic 8 Question 34 Discussion

During a Board meeting at a manufacturing company, concerns regarding the analysing of the current inventory management systems and processes are brought up.Attendees of the meeting have made several claims and suggestions but the managing director admits that he does not know who to believe and so has asked you to let him know which statements of the following statements are TRUE?Select ALL that apply.
C) ABC is ideal for organisations running a JIT inventory system and D) Standard costing is ideal for organisations in a TQM environment
A) Standard Costing is ideal for organisations running a JIT inventory system
B) A JIT system is likely to result in economies of scale
E) A JIT inventory system reduces inventory costs

CIMAPRO19-P02-1 Exam - Topic 8 Question 34 Discussion

Actual exam question for CIMA's CIMAPRO19-P02-1 exam
Question #: 34
Topic #: 8
[All CIMAPRO19-P02-1 Questions]

During a Board meeting at a manufacturing company, concerns regarding the analysing of the current inventory management systems and processes are brought up.

Attendees of the meeting have made several claims and suggestions but the managing director admits that he does not know who to believe and so has asked you to let him know which statements of the following statements are TRUE?

Select ALL that apply.

Show Suggested Answer Hide Answer
Suggested Answer: C, D

by Annelle at May 09, 2022, 06:13 AM

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Catarina
10 months ago
Wait, are we sure about that JIT cost reduction? Sounds too good to be true.
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Freeman
10 months ago
ABC is definitely better for JIT systems!
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Ty
11 months ago
Standard costing isn't great for JIT, just saying.
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Sean
11 months ago
I disagree, economies of scale are more about bulk buying.
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Melvin
11 months ago
A JIT inventory system reduces inventory costs.
upvoted 0 times
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An
11 months ago
This seems like a tricky one. I'll need to carefully weigh the options and think through the potential impacts.
upvoted 0 times
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Dexter
11 months ago
Hmm, I'm a bit unsure about this one. The question mentions "acting in order to learn" and "trying something new", which could also apply to experimentation. I'll have to think this through carefully.
upvoted 0 times
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