IC Hackathon 2 CHOOLS No Comment 11Mar Share Welcome to your IC Hackathon 2 What does "customer lifetime value (CLV)" measure? The total revenue a business earns from a customer over time The number of new customers acquired The percentage of defective products )The company's annual revenue What is the main goal of "defect rate" as a performance metric? To measure product quality and reduce defects To increase product returns To calculate company profits To track employee attendance Which metric helps evaluate the efficiency of production processes? Cycle time Customer service response time Number of employees in the company Office supply budget Which inventory management technique classifies stock based on consumption value? ABC Analysis EOQ Model JIT System Pareto Chart What is the purpose of "profit margin" as a financial metric? To measure profitability after expenses To count the number of customers To measure office rent expenses To calculate employee benefits What does "bounce rate" measure in website analytics? The percentage of visitors who leave without interacting The number of pages on a website The total number of website visitors The number of employees working remotely What is the main purpose of "mean time to repair (MTTR)"? To measure the average time taken to fix a failure To track employee hiring time To count the number of sales calls made To measure website visitors What is the main goal of "first response time (FRT)" in customer service? To measure how quickly a company responds to customer inquiries To track the number of customer complaints To calculate company profits To measure employee satisfaction What does "return on equity (ROE)" measure? Profitability relative to shareholder equity Number of company shareholders Number of employees hired Office rent expenses What is the purpose of "time to fill" in HR metrics? To measure the time taken to hire a new employee To calculate the number of meetings held ) To track the number of employees leaving To measure workplace satisfaction What does "customer acquisition cost (CAC)" measure? The total cost of acquiring a new customer The number of customers lost The number of employees in the sales team The total number of website visitors Which metric is used to assess IT system performance? System uptime percentage Number of sales calls made Number of employees trained Office furniture cost What does "employee absenteeism rate" measure? The percentage of days employees are absent The number of hours worked The number of promotions given The company's customer retention rate What is "average handle time (AHT)" in customer service? The average time taken to resolve a customer issue The number of complaints received The time taken to generate a report The number of customer reviews Which metric is useful in measuring sustainability performance? Carbon footprint reduction Number of social media followers Employee dress code compliance Office supplies cost What does "mean time between failures (MTBF)" measure? The average time between equipment failures The number of employees quitting The number of customer complaints The office rent increase rate What does "fill rate" measure in inventory management? The percentage of customer orders fulfilled from stock The number of employees working overtime The total number of warehouses The company's total revenue What does "customer effort score (CES)" measure? How easy it is for customers to resolve their issues The number of customer complaints received The total number of service representatives hired The cost of customer service training Which of the following is a key safety performance metric? Lost Time Injury Frequency Rate (LTIFR) Number of employee social events Office supply budge Employee dress code compliance What does "cost variance" measure in project management? The difference between budgeted and actual project costs The total number of projects completed The number of employees assigned to a project The office equipment depreciation rate What does "average revenue per user (ARPU)" measure? The revenue generated per customer over a specific period The total revenue generated by the company The number of users visiting the company website The company's total operating expenses Which of the following is a key financial performance metric that measures a company’s profitability relative to its revenue? Return on Assets (ROA) Gross Profit Margin Inventory Turnover Ratio Cash Flow Ratio The Balanced Scorecard framework includes which of the following perspectives? Financial, Customer, Internal Process, Learning & Growth Cost, Profit, Investment Strategy, Operations, Human Resources, Compliance Quality, Efficiency, Compliance, Safety What does the Key Performance Indicator (KPI) “Order Fill Rate” measure? The time taken to fulfill an order The percentage of customer orders shipped completely The number of orders rejected by customers The profitability of each order Return on Investment (ROI) is calculated as: (Net Profit / Total Revenue) × 100 (Net Profit / Total Assets) × 100 (Net Profit / Investment Cost) × 100 (Operating Income / Revenue) × 100 Which performance metric is used to measure how efficiently a company converts sales into actual profit? Net Profit Margin Customer Retention Rate Days Sales Outstanding (DSO) Market Share In supply chain performance metrics, which measure evaluates the percentage of on-time deliveries? Perfect Order Rate Fill Rate On-Time Delivery (OTD) Inventory Turnover What does the “Days Sales Outstanding (DSO)” metric indicate? The total revenue generated in a period The average number of days it takes a company to collect payments from customers The time taken to restock inventory The percentage of sales from returning customers The Customer Acquisition Cost (CAC) is calculated as: Total Sales / Number of New Customers (Total Marketing + Sales Costs) / Number of New Customers Total Customers / Total Leads Total Revenue / Total Marketing Spend A high Inventory Turnover Ratio typically indicates: Slow-moving stock and high storage costs High demand and efficient inventory management Increased lead times and delayed orders Excess inventory and declining sales Which metric is most commonly used to measure customer loyalty? Customer Churn Rate ) Customer Retention Rate Average Order Value Sales Growth Rate Which metric measures the average revenue a company earns per user over a specific period? Customer Lifetime Value (CLV) Revenue Growth Rate Net Promoter Score (NPS) Average Revenue Per User (ARPU) What does the "First Response Time (FRT)" metric indicate in customer service? The time taken to resolve a customer complaint The average time before an agent responds to a customer inquiry The percentage of satisfied customers The number of complaints resolved in a given time Which of the following is used to measure employee productivity? Revenue per Employee Customer Satisfaction Score (CSAT) Employee Turnover Rate Net Profit Margin What does the metric “Return on Assets (ROA)” measure? The efficiency of asset utilization in generating profit The total revenue earned from investments The profit percentage on capital invested The value of a company’s total assets The "Cost Per Click (CPC)" metric is used in: Inventory Management Digital Marketing Campaigns Supply Chain Optimization Employee Performance Evaluations What does a high Net Promoter Score (NPS) indicate? High brand awareness but low customer satisfaction Strong customer advocacy and brand loyalty Poor customer engagement Low customer retention Which metric is commonly used to measure the effectiveness of a company’s cost structure? Gross Margin Operating Expense Ratio Return on Equity (ROE) Market Share A low Customer Churn Rate indicates: High customer retention and loyalty A decrease in market share Poor customer service quality Increased customer acquisition costs What does the metric "Working Capital Turnover Ratio" measure? The efficiency of inventory management The rate at which a company uses its working capital to generate revenue The total operating expenses as a percentage of revenue The time taken to replenish stock Which of the following is a key indicator of a company’s long-term financial sustainability? Liquidity Ratio Net Profit Margin Return on Equity (ROE) Debt-to-Equity Ratio What is inventory? Money kept in a bank Raw materials, work-in-progress, and finished goods a company holds The number of employees in an organization A company’s profit margin Which of the following is NOT a type of inventory? Raw materials Work-in-progress Finished goods Capital investment What is the main objective of inventory management? To increase warehouse size To ensure the availability of products without overstocking To maximize supplier dependency To increase production costs What is the Just-in-Time (JIT) inventory system designed to do? Increase storage costs Reduce inventory holding costs Stockpile inventory Order inventory once a year Which inventory method assumes the oldest stock is used first? Last-In, First-Out (LIFO) First-In, First-Out (FIFO) Weighted Average Cost Economic Order Quantity (EOQ) Which inventory method assumes the newest stock is used first? FIFO LIFO ABC Analysis JIT The Economic Order Quantity (EOQ) model helps determine: The number of employees in inventory management The optimal order quantity to minimize costs The selling price of products The total revenue from sales A stockout occurs when: Inventory levels are too high A product is out of stock A company orders extra inventory Storage space is empty What is safety stock? Extra inventory to prevent stockouts Stock kept for safety inspections Expired products in storage Products that are not for sale Products that are not for sale The time taken to manufacture a product The time taken to replenish stock The lifespan of an inventory item The time taken to sell a product Which of the following is NOT an inventory management technique? FIFO JIT ABC Analysis Profit and Loss Account What does the reorder point indicate? The maximum stock level The stock level at which new orders should be placed The quantity of obsolete inventory The number of employees needed in a warehouse Which system continuously updates inventory records? Periodic Inventory System Perpetual Inventory System Annual Stock Count FIFO Which inventory control technique classifies items based on value and frequency of use? EOQ JIT ABC Analysis LIFO Inventory turnover ratio measures: The total number of products in stock How often inventory is sold and replaced The time taken to manufacture products The price of inventory What is a cycle count? Counting inventory once a year A method of counting inventory periodically in small sections Counting only finished goods Ignoring inventory discrepancies Overstocking inventory can result in: Reduced storage costs Increased carrying costs and risk of obsolescence Improved warehouse space utilization Faster sales turnover The term "dead stock" refers to: Stock that is frequently sold Inventory that is damaged beyond use Inventory that has not been sold for a long period Stock that is perishable Which cost is NOT included in inventory carrying costs? Storage costs Insurance costs Ordering costs Obsolescence costs What does SKU stand for in inventory management? Stock Keeping Unit Sales and Quality Unit Supply Key Utility Storage Quantity Unit Which of the following is a benefit of inventory control? Increased theft Improved customer service Higher storage costs More stockouts Which type of inventory is used for production but not yet finished? Raw Materials Work-in-Progress (WIP) Finished Goods Dead Stock Which inventory method is best for perishable goods? FIFO LIFO JIT ABC Analysis A high inventory turnover ratio generally indicates: Slow sales Overstocking Strong sales performance High storage costs Inventory shrinkage refers to: An increase in stock due to overproduction The reduction in inventory due to theft, damage, or loss Extra inventory ordered to meet high demand Discounts offered on bulk inventory Which inventory method smooths out price fluctuations? FIFO LIFO Weighted Average Cost JIT Inventory turnover is calculated using: (Cost of Goods Sold) / (Average Inventory) (Total Sales) / (Net Profit) (Storage Costs) / (Total Inventory) (Total Revenue) / (Number of Employees) What is the purpose of inventory reconciliation? To ignore discrepancies in stock records To compare physical stock with recorded inventory To increase warehouse space To reduce reorder frequency What is an advantage of JIT inventory management? Reduces storage costs Requires large warehouses Increases holding costs Encourages bulk ordering What does an inventory aging report show? The total inventory cost The time inventory has been in stock The best-selling products The storage space required for inventory What is a disadvantage of manual inventory tracking? Faster inventory processing High accuracy Prone to human error Reduces labor costs Which type of inventory is used for day-to-day operations? Maintenance, Repair, and Operations (MRO) Inventory Raw Materials Finished Goods Work-in-Progress Which of the following is NOT an inventory control method? Reorder Point Safety Stock Depreciation ABC Analysis Which inventory strategy aims to reduce lead time? JIT LIFO EOQ FIFO What is the purpose of barcoding in inventory management? To reduce supplier costs To track inventory efficiently To increase inventory levels To classify inventory by size The Pareto Principle (80/20 rule) in inventory states that: 80% of stockouts are due to supplier delays 80% of revenue comes from 20% of inventory 80% of inventory is obsolete 80% of products are overstocked What is a benefit of warehouse automation? Increased labor costs More manual processes Improved inventory accuracy Longer order fulfillment times What does a Bill of Materials (BOM) list? A list of required materials for production Finished goods ready for sale The number of employees in a warehouse Inventory valuation reports What is batch tracking used for? Tracking production batches for quality control Counting all inventory at once Organizing inventory by storage location Reducing product lifespan What is consignment inventory? Inventory owned by a supplier but stored at a retailer’s location Overstocked products stored in a warehouse Damaged inventory that cannot be sold Inventory that is never sold What does inventory obsolescence mean? Inventory that is in high demand Inventory that is outdated or no longer sellable Inventory that has been stolen Inventory that is frequently restocked Which of the following is an example of a holding cost? Cost of purchasing inventory Warehouse rent and storage costs Selling price of inventory Customer returns What is the purpose of demand forecasting in inventory management? To increase storage costs To predict future inventory needs To eliminate the need for inventory tracking To randomly order stock A barcode scanner helps in: Manually counting inventory Automating inventory tracking and reducing errors Increasing stockout occurrences Increasing supplier lead times What is the purpose of a stock audit? To check inventory accuracy To increase the amount of inventory ordered To remove all old stock To reduce supplier dependence The minimum inventory level needed to avoid stockouts is called: Maximum Stock Level Lead Time Safety Stock Overstock Which of the following is NOT a function of inventory? Meeting customer demand Buffering against supply chain disruptions Increasing storage costs unnecessarily Supporting production needs Which inventory method is best for businesses experiencing price fluctuations? FIFO Weighted Average Cost JIT ABC Analysis What is the benefit of real-time inventory tracking? Increased manual errors Better inventory accuracy and reduced stockouts Higher labor costs Less visibility into stock levels What is the purpose of inventory KPIs (Key Performance Indicators)? To track and improve inventory performance To increase production delays To ignore demand fluctuations To slow down the inventory process Which of the following is NOT considered a type of inventory? Raw materials Work-in-progress Finished goods Accounts receivable Inventory turnover ratio is calculated using which formula? Cost of Goods Sold / Average Inventory Total Sales / Closing Inventory Average Inventory / Total Purchases Beginning Inventory + Ending Inventory / 2 Which inventory valuation method results in lower tax payments during inflation? FIFO (First In, First Out) LIFO (Last In, First Out) Weighted Average Cost Specific Identification The primary purpose of inventory control is to: Increase stock levels Minimize holding costs while ensuring availability Reduce production speed Eliminate demand fluctuations Lead time in inventory management refers to: The time taken to receive goods after placing an order The time goods remain unsold in stock The maximum period stock can be held before it expires The time between customer orders Which of the following costs is NOT part of inventory carrying costs? Storage costs Insurance costs Procurement costs Depreciation costs What is the main objective of cycle counting? To replace physical inventory audits To ensure real-time tracking of inventory levels To check inventory accuracy without disrupting operations To minimize purchase order quantities Stockout costs refer to: The costs associated with overstocking The costs incurred when inventory runs out and demand cannot be met The cost of expired inventory The cost of transporting goods between warehouses Safety stock is maintained primarily to: Reduce demand fluctuations Prevent stockouts due to uncertain demand or supply delays Increase profitability Reduce warehousing costs Time is Up! Previous IC Hackathon 1 March 11, 2025 Next BPM Hackathon 1 March 11, 2025 You Might Also Like Hello world CHOOLS No Comment How to Disable Avast Antivirus CHOOLS No Comment AVG Review — Is the Absolutely free Version As effective as the Premium Version? CHOOLS No Comment Understanding the Limitations of Models of Managing CHOOLS No Comment Careers Similar To Teaching CHOOLS No Comment
