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CIPS L4M7 Exam - Topic 6 Question 20 Discussion

Actual exam question for CIPS's L4M7 exam
Question #: 20
Topic #: 6
[All L4M7 Questions]

The size of order that minimises the total cost of acquiring and holding stock is known as...

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Suggested Answer: C

For single items, an extra investment in inventory (higher levels of safety stock) will always in-crease customer service levels. Conversely, higher service levels imply larger quantities of safety stocks and an increased investment in inventory. (Procurement and Supply Chain Management - 9th Edition)


LO 2, AC 2.2

by Van at Aug 04, 2023, 02:39 PM

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Hillary
3 months ago
Totally agree with B, it's the standard term!
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Dahlia
3 months ago
Wait, is it really called Economic Order Quantity? Sounds too fancy!
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Rebbecca
4 months ago
Just a fact: EOQ helps reduce costs effectively.
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Robt
4 months ago
I thought it was A at first, but B makes more sense.
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Antonio
4 months ago
It's definitely B, Economic Order Quantity!
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Tanja
4 months ago
I feel like we had a similar question in our study group, and I think the answer was Economic Order Quantity too.
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Laurel
4 months ago
I’m a bit confused. I thought it was just called order quantity, but now I’m second-guessing myself.
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Pansy
5 months ago
I remember something about minimizing costs, and I feel like it was definitely related to order quantity. Was it option B?
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Cristal
5 months ago
I think the answer is Economic Order Quantity, but I’m not completely sure. It sounds familiar from our last practice session.
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Ettie
5 months ago
Okay, let's see. The key here is that the new account owner can only see the Item records if they also own the Quota record. So we need to find a way to give them that access.
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Amie
5 months ago
This looks straightforward. I'll focus on the key benefits mentioned in the options, like restricting access based on organization and viewing asset information across multiple books.
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Kattie
5 months ago
I feel like "Client clipboard write allowed formats" is definitely one of the correct answers, but I can't recall if the other should focus on restricting or allowing something.
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Marvel
10 months ago
Wait, is there a trick question here? What if the answer is actually the amount that maximizes my snack budget?
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Larae
8 months ago
D) Average stock
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Brittani
9 months ago
C) The correct quantity
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Kimberely
9 months ago
B) Economic Order Quantity
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Jarod
9 months ago
A) Order quantity
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Pansy
9 months ago
D) Average stock
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Lea
9 months ago
C) The correct quantity
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Carlene
9 months ago
B) Economic Order Quantity
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Felicia
10 months ago
A) Order quantity
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Delmy
10 months ago
Haha, I almost went with D) Average stock. Sounds like something my professor would trick us with!
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Bernadine
10 months ago
Hmm, I was stuck between B) and D) Average stock. Glad I double-checked the definitions!
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Shawana
9 months ago
B) Economic Order Quantity
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Douglass
10 months ago
A) Order quantity
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Karima
11 months ago
I thought it was C) The correct quantity, but I guess B) is the more formal term.
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Cathrine
9 months ago
Yes, that's correct. B) Economic Order Quantity is the optimal order size.
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Corrinne
9 months ago
Oh, I see. So B) is the formal term for it.
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Emilio
10 months ago
Actually, it's B) Economic Order Quantity that minimises total cost.
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Phyliss
10 months ago
I always thought it was C) The correct quantity too.
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Kenny
11 months ago
I'm not sure, but I think it's A) Order quantity.
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Nettie
11 months ago
B) Economic Order Quantity, of course! That's the textbook answer.
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Raelene
11 months ago
I agree with Veda, because EOQ helps in minimizing total cost.
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Veda
11 months ago
I think the answer is B) Economic Order Quantity.
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