STORES AND STOCK CONTROL

Transcription

1 STOBUS2 NOVEMBER 2013 EXAMINATION DATE: 11 NOVEMBER 2013 TIME: 09H00 11H00 TOTAL: 100 MARKS DURATION: 2 HOURS PASS MARK: 40% (NB-36) THIS EXAMINATION PAPER CONSISTS OF 4 SECTIONS: SECTION A: CONSISTS OF: (i) 10 MULTIPLE-CHOICE QUESTIONS (10 MARKS) (ii) 5 TRUE OR FALSE QUESTIONS (10 MARKS) (iii) 10 MATCHING-STATEMENT QUESTIONS (10 MARKS) SECTION B: SECTION C: SECTION D: CONSISTS OF 4 SHORT QUESTIONS CONSISTS OF 4 LONG ANSWER QUESTIONS CONSISTS OF 3 INTERPRETATIVE QUESTIONS ANSWER ANY ONE OF THE QUESTIONS (10 MARKS) (40 MARKS) (20 MARKS) INSTRUCTIONS: 1. Read the following instructions carefully before answering the paper, as failure to act upon them will result in a loss of marks. 2. Write your answers in your answer book, which is provided in the exam. 3. Ensure that your name and student number are clearly indicated on your answer book. 4. Write your answers in either blue or black ink in your answer book. 5. Read each question very carefully before you answer it and number your answers exactly as the questions are numbered. 6. Begin with the question for which you think you will get the best marks. 7. Note the mark allocations for each question give enough facts to earn the marks allocated. Don't waste time by giving more information than required. 8. You are welcome to use diagrams to illustrate your answers. 9. Please write neatly we cannot mark illegible handwriting. 10. Any student caught cheating will have his or her examination paper and notes confiscated. The College will take disciplinary measures to protect the integrity of these examinations. 11. If there is something wrong with or missing from your exam paper or your answer book, please inform your invigilator immediately. If you do not inform your invigilator about a problem, the College will not be able to rectify it afterwards, and your marks cannot be adjusted to allow for the problem. 12. This paper may be removed from the examination hall after the examination has taken place. DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 1 OF 7

2 SECTION A (30 MARKS) (i) MULTIPLE-CHOICE QUESTIONS Choose the correct option for each of the following. Write only the question number and your chosen answer. For instance, if you think that the correct answer for number 1 is, then write it as The receiving of inventory involves: developing material plans. maintenance of machinery. materials. payroll. 2. The letters GRN stand for: Goods Received Note. Goods Received Name. Goodness Required Note. Goods Relayed Note. 3. SKU means: Store Keepers Unity. Stock Keeping Unit. Stop Killing Unicorns. Stock Korp Utility. 4. There are a number of different ways in which to officially record stock. Which of the following is not one of these ways? bin cards kardex notepaper computer systems 5. The 3 Ss of a variety reduction programme stand for: specialisation, simplification, summarisation. summarisation, simplification, standardisation. specialisation, summarisation, standardisation. specialisation, simplification, standardisation. DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 2 OF 7

3 6. Which of the following would not be stored in a tool store? spanners jigs cleaning rags hacksaw blades 7. Which one of the following does not fall under types of materials handling? manual trolleys stockyards conveyors 8. Which one of the following does not fall under the materials management function? purchasing personnel stores materials planning 9. One of the purposes of quality control is to: be a hinderance to storekeepers. ensure that approved standards are maintained. count stock daily. report to management daily. 10. One of the main purposes of effective store accounting is: to provide a basis for sales forecasting. to provide the means to have zero inventories. to indicate when production will stop. to indicate the value of stores in stock. [10] (ii) TRUE OR FALSE QUESTIONS Indicate whether the following statements are True or False. Motivate all your answers. 1. All goods used in an organisation must pass through the receiving section. 2. Copies of all advice notes received from suppliers are usually kept at the local SARS office for verification purposes. 3. Quality refers to the standards of workmanship and materials, whereas correctness signifies that the goods are in fact what were ordered. 4. Periodic stocktake takes place at agreed times. 5. Stocktaking is most conveniently carried out by the periodic inventory method. [5 2 = 10] DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 3 OF 7

4 (iii) MATCHING-STATEMENT QUESTIONS Match the statements in Column B to the terms in Column A. Write down the answers only, for example 1.. Column A Column B 1. purchase order form request to buying department to purchase items 2. packing note ownership of the stock is held by the supplier 3. purchase requisition authority to buy raw material 4. advice note goods have been returned to stores 5. goods received note (e) damaged stock is written off 6. transfer form (f) raw material has been received at the store 7. consignment note (g) informs the storekeeper that goods have left the supplier 8. shortage report (h) stock moved to a different store 9. return-to-stores note (i) used to verify the contents in a container 10. scrap write-off form (j) stock count shows that actual stock quantity is lower than the computer quantity [10] [30] DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 4 OF 7

5 SECTION B: SHORT QUESTIONS (10 MARKS) QUESTION 1 Define the following terms: purchase order (1) blanket order (1) standing order (1) [3] QUESTION 2 A company wants to store an SKU consisting of cartons on pallets each containing 20 cartons. They are to be stored three high in the storage area provided. Calculate how many pallet positions are required. Show your calculations. [2] QUESTION 3 Explain the meaning of the term 'stock reconciliation'. (1) Once we have determined the cause of the stock error, there are two actions we must take. What are these two actions? (2) [3] QUESTION 4 When replenishing stock, only two basic kinds of order decisions need to be made. What are these two decisions? [2] [10] DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 5 OF 7

6 SECTION C: LONG ANSWER QUESTIONS (40 MARKS) QUESTION 1 Give any five kinds of documents used in stores to receive stock. (5) Draw the layout of a typical Bin Card. (5) [10] QUESTION 2 List five of the various types of stores issues commonly used. (5) Explain how scrap differs from other issues, and receipts in the store. (2) Explain the primary purpose of stock allocations. (3) [10] QUESTION 3 Identify five possible causes of discrepancies between the recorded stock figure and the physical stock count. (5) Explain why it is necessary to maintain accurate on-hand balances. (3) Define the fundamental principle of good housekeeping. (2) [10] QUESTION 4 Explain the difference between a store and a warehouse. (4) Explain the difference between the role of the material controller and the role of the stores manager. (4) Give two characteristics of a good store person. (2) [10] [40] DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 6 OF 7

7 SECTION D: INTERPRETATIVE QUESTIONS (20 MARKS) ANSWER ANY ONE OF THE QUESTIONS QUESTION 1 Explain the importance of good customer service. (10) Define and describe the difference between the following: i. a common carrier (5) ii. a contract carrier (5) [20] OR QUESTION 2 A company currently stocks line items. 20% of these are A class items, 30% are B items and the remainder C items. It is policy to count the A items once a month, the B items four times a year and the C items only once a year. If there are 200 days available for the exercise of cycle counting, how many items must be counted each day? Show all calculations. (10) Discuss the requirements for effective control issue and use of keys. (5 2 = 10) [20] OR QUESTION 3 Discuss the importance of a comprehensive stores manual. [20] [20] Section A: 30 marks Section B: 10 marks Section C: 40 marks Section D: 20 marks TOTAL: 100 MARKS DAMELIN CORRESPONDENCE COLLEGE NOVEMBER 2013 PAGE 7 OF 7