CIPS L4M7 Exam - Topic 2 Question 32 Discussion

Actual exam question for CIPS's L4M7 exam

Question #: 32
Topic #: 2

[All L4M7 Questions]

Which of the following are the different types of inventory that a manufacturing company usually has?

1. Work in progress

2. Economic order quantity

3. Raw materials

4. Finished goods

A1, 3 and 4

B1, 2 and 4

C2, 3 and 4

D2, 3 and 4

Show Suggested Answer

Suggested Answer: A, E

RFID tags are the small devices that can be embedded in labels or attached to tags which work with radio transmitters and/or receivers to identify themselves.

RFID tags can be used to do the following:

- Track individual items

- Track boxes of products, cages of products and pallets

- Track containers with multiple loads

- Locate equipment within a building

- Trigger alarms should equipment or stock be removed without authorisation.

RFID devices have a very small integrated circuit incorporating a small memory capability - many are smaller than 2mm square and 2mm thick. Despite its size, many can hold 2000 characters of data.

RFID operating rage depends on the radio frequency used, receiver capability and the environment. Some tags are only readable from under 1m, others can have a 100m range.

RFID tags and labels are very specific to the type of material and size of your assets. For example, metal will deactivate the RFID antenna and the tag will not transmit at all. Using RFID on metal requires a special type of tag with an RFID block to prevent interference with the antenna. Liquid products can also affect the reliability of the RFID signal. To use RFID tags in specific environ-ments, some technologies are needed to support them.

LO 1, AC 1.2

by Edmond at Apr 25, 2024, 10:44 PM

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Jolene

3 months ago

I agree, work in progress is key for manufacturing!

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Angelyn

3 months ago

Surprised that economic order quantity isn’t included!

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King

3 months ago

Yeah, raw materials and finished goods are a must!

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Ilene

4 months ago

I thought economic order quantity was a type of inventory too?

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Laurena

4 months ago

Definitely 1, 3, and 4!

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Leslie

4 months ago

I believe the answer is A, but I can't quite recall if economic order quantity was ever classified as inventory.

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Jerlene

4 months ago

I'm a bit confused because I feel like economic order quantity is more about inventory management rather than a type of inventory itself.

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Shenika

4 months ago

I remember practicing a question similar to this, and I think it was just 1, 3, and 4 that were mentioned as inventory types.

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Christoper

5 months ago

I think the types of inventory are definitely work in progress, raw materials, and finished goods, but I'm not sure about the economic order quantity.

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Ronald

5 months ago

Wait, is economic order quantity a type of inventory? I'm not sure about that one. I better double-check the definitions to make sure I understand the differences between the inventory types before selecting an answer.

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Brandon

5 months ago

Okay, I've got this. The different types of inventory for a manufacturing company are raw materials, work in progress, and finished goods. That matches option A, so I'm confident that's the right answer.

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Kimberlie

5 months ago

Hmm, I'm a bit confused by the options here. Economic order quantity is more of a concept related to inventory management, not a type of inventory itself. Let me think this through carefully before answering.

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Jeff

5 months ago

This looks like a straightforward inventory question. I'll focus on the key types of inventory a manufacturing company would have - raw materials, work in progress, and finished goods. I think the answer is A.

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Stephanie

5 months ago

I'm a bit confused by this question. The wording is a little tricky, and I'm not super familiar with the differences between the IE product lines. I'll need to review the details carefully before deciding.

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Daren

5 months ago

Hmm, I'm a bit confused by the wording here. The question says "All changes must be integrated into a single commit instead of preserving them as individual commits." I'm not sure if the "git merge -- --squash" command is the right one for that, or if there's a better option. I'll have to think this through carefully.

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Terrilyn

5 months ago

I think I practiced a similar question from our study guide, and it led me to believe that decreasing size might not be permitted.

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Twanna

5 months ago

My instinct says it wouldn't increase bad debt losses, but I need to double-check how cash discounts might affect customer payment behavior.

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Ernest

5 months ago

I feel pretty confident about this one. The reference docs make it clear that adding users and assigning entitlements can be automated, while modifying group memberships and procuring licenses need to be done manually. I'll go with option B.

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Shizue

5 months ago

I don't recall the Service Discoverability principle being relevant to this scenario; it might not help with the speed issues we need to fix.

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Gladys

10 months ago

Economic order quantity? What is this, a quiz on economic theory? The correct answer is A, and I'm going to ace this exam!

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Basilia

8 months ago

Actually, it's C, economic order quantity, raw materials, and finished goods.

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Simona

8 months ago

No, I believe it's A, work in progress, raw materials, and finished goods.

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Dan

9 months ago

I think the answer is B, work in progress, economic order quantity, and finished goods.

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Pedro

10 months ago

I bet the person who wrote this question is trying to trick us. But I'm not falling for it - A is the right answer!

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Stefanie

10 months ago

Looks like someone didn't pay attention in their inventory management class. The correct answer is clearly A.

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Twana

8 months ago

Oh, I see. Thanks for clarifying.

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Tommy

9 months ago

No, it's actually A. Raw materials are also part of the inventory for a manufacturing company.

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Erinn

9 months ago

Oh, I see. Thanks for the clarification.

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Sherill

9 months ago

No, it's actually A. Raw materials are also part of the inventory.

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Jackie

9 months ago

I think it's B, work in progress, economic order quantity, and finished goods.

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Nieves

9 months ago

I think it's B, work in progress, economic order quantity, and finished goods.

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Sherell

10 months ago

Economic order quantity is not a type of inventory, it's a method for determining the optimal order quantity. The correct answer is A.

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Tijuana

8 months ago

That makes sense, thanks for clarifying.

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Antonio

9 months ago

So, the types of inventory are work in progress, raw materials, and finished goods.

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Laurel

9 months ago

I agree, Economic order quantity is not a type of inventory.

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Carla

10 months ago

I think the correct answer is A) 1, 3 and 4

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Justine

10 months ago

Work in progress, raw materials, and finished goods are the different types of inventory a manufacturing company usually has. The correct answer is A.

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