ICTM: L12

Question 1

making sure that services
go successfully from one source to an end user—includes several areas
of the hospital

Answer 1

MATERIALS MANAGEMENT SYSTEM

Question 2

A ________ could be used as a first step in the process of purchasing.
This is used internally to identify a need for an item.

Answer 2

purchase request

Question 3

Johnston (2014) states that inventory is one of the biggest expenses for most medical institutions.

Answer 3

Inventory Control

Question 4

Tracking medical inventory must involve checking shipments for accuracy.

Answer 4

Making Sure Shippers Are Accurate

Question 5

In the field of medicine, sales projections can be wildly inaccurate.

Answer 5

Alignment With Sales Projections

Question 6

The medical field is heavily regulated. A company that routinely fails to serve the best interests of
patients can quickly find itself being investigated,

Answer 6

Compliance With Regulations

Question 7

Inventory control helps medical companies understand buying cycles

Answer 7

Establishing Buying Cycles

Question 8

is used for maintenance of the attributes of an inventory item, such as product type,
item class, item type, etc.

Answer 8

“Item Tab”

Question 9

the _________ form specifies inventory levels across all warehouses

Answer 9

“Item Availability”

Question 10

there are instances where items are damaged either upon receiving from the
supplier or during the move from the source to another location

Answer 10

ITEM INDENTS AND ISSUES

Question 11

_________ is the minimum quantity of an item that a
company has in stock, so when the stock reached the minimum quantity stated,

Answer 11

Re-order level

Question 12

_________ are the start point of a sale or purchase process.

Answer 12

Enquiries

Question 13

consist of various pieces of vital information of a requirement towards a sale /purchase.

Answer 13

Quotations

Question 14

In business or commerce, an Order is a stated intention, either spoken or written, to engage in a commercial transaction
for specific products or services.

Answer 14

orders

Question 15

An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and
agreed prices for products or services the seller has provided the buyer.

Answer 15

Invoices

Question 16

_______ is a document for requesting prices and delivery information from a vendor before the
purchase order.

Answer 16

purchase quotation

Question 17

is a document which records a business transaction between
the buyer and the seller.

Answer 17

Purchase Orders

Question 18

Whenever possible, the person receiving the product should sign the receiving documents provided
by the supplier or shipping company.

Answer 18

Signing for Deliveries

Question 19

Whenever possible, departments should refuse to accept shipments if they are unable to confirm
that the order was placed by their department,

Answer 19

Refusing Delivery

Question 20

During the receiving process, the Receiving Department takes physical possession and legal
ownership of the shipment.

Answer 20

Record Retention

Question 21

Persons receiving shipments should, upon acknowledging receipt of an order,

Answer 21

Inspecting a Shipment

Question 22

Departments should contact the appropriate Purchasing Agent whenever a purchase is received as a partial
delivery without acknowledgement or notification from the supplier.

Answer 22

Partial Deliveries

Question 23

Goods can be easily tracked /traced when they are managed by Serial or Batch.

Answer 23

) Tracking of Goods

Question 24

Upon reaching their expiration dates, some goods, such as food and medicine, can no longer be utilized

Answer 24

Expired Stock/Inventory

Question 25

When undecided about how to handle defective goods, whether to be sold as scrap, reworked, returned, or used
as it is, a quarantine location or warehouse

Answer 25

Quarantine Stock/Inventory

Question 26

Inventory items are sold in the order they are
purchased. This is the most common technique.

Answer 26

First In, First Out (FIFO)

Question 27

– Last to enter the system are sold first. This is
common among non-perishable items like petroleum, minerals, and metals

Answer 27

Last In, First Out (LIFO) –

Question 28

– Materials are sold based on date they
should be consumed, regardless of when it was purchased

Answer 28

First Expired, First Out (FEFO)

Question 29

An inventory count is a process where a business physically counts its entire inventory

Answer 29

PERIODIC PHYSICAL STOCK TAKING AND
ADJUSTMENTS WITH TRACKING