Choose the correct answer and write down only the letter $($A $$ D$)$ next to the question number $(15)$ on your answer page, for example, $1.$ B$.$

$1.$ Which of the following is a reason for keeping inventory?

a$.$ Establishing price objectives

b$.$ Involves the value chain in cost planning

c$.$ Saving on transportation costs

d$.$ Changing package design

e$.$ None of the above $(1)$

$2.$ What is the purpose of a learning curve analysis in a supply chain?

a$.$ it is a systematic method for estimating costs based on increased learning by the company

b$.$ The incremental unit$-$time learning model

c$.$ Optimise the inventory level

d$.$ None of the above

e$.$ All of the above $(1)$

$3.$ Identify the steps that must be followed when an inventory strategy is developed.

a$.$ Work towards a higher inventory turnover

b$.$ Decide on a place for storing and processing the inventory

c$.$ Implement a process to get rid of excess stock

d$.$ None of the above

e$.$ All of the above $(1)$

$4.$ Which of the following are ways of counting inventory?

a$.$ Pull inventory

b$.$ Physical inventory

c$.$ Push inventory

d$.$ Cycle count

e$.$ All of the above $(1)$

$5.$ What are the risks associated with JIT?

a$.$ Delivery costs can increase

b$.$ Potential bottlenecks caused by supplier delays

c$.$ High volumes of orders are placed at once

d$.$ None of above

e$.$ More than one of above $($