Lesson 12: Material Management System

Question 1

Statement 1: A Purchase Request notifies the purchasing department that certain items needs to be replenished. Statement 2: The Materials Management Information Systems can be used to manage functions like purchasing, accounting, inventory management, and patient supply charges.

Answer 1

-Both statements are correct.

Question 2

What inventory handling method sells the last item to enter the system first?

Answer 2

-Last In, First Out

Question 3

What document is also called a bill and indicates the product, the ordered quantity, and the agreed price?

Answer 3

-Invoices

Question 4

Statement 1: Last In, First Out (LIFO) is where inventory items are sold in the order they are purchased. Statement 2: Tax configurations are accounted for on a per region basis.

Answer 4

-Neither statement is correct

Question 5

What process involves counting physically the entire inventory of the business?

Answer 5

-Inventory count

Question 6

Aligning with Sales Projections is an example of strategy used in improving inventory control in healthcare facility.

Answer 6

-TRUE

Question 7

Enquiries contain various pieces of vital information regarding the requirements which include price, delivery details, payment terms, and etc.

Answer 7

FALSE

Question 8

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

Answer 8

TRUE

Question 9

Companies look for preferred vendors that offer reasonable cost and provide high quality products and services.

Answer 9

TRUE

Question 10

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

Answer 10

TRUE