Quiz Space

Business Data Management · End Term · 28 Apr 2024 · January 2024 term

Question 8: If a company identifies a seasonal pattern in their sales…

Question 8

+1 markOne correct option

If a company identifies a seasonal pattern in their sales data, how should this influence their inventory management strategy?

  1. A

    Increase inventory levels uniformly throughout the year to avoid any potential stockouts.

  2. B

    Adjust inventory levels based on historical sales data to match the anticipated seasonal demand.

  3. C

    Reduce inventory levels during peak seasons to minimize holding costs.

  4. D

    Keep inventory levels constant, ignoring seasonal trends to simplify logistics.

Show answer

Correct answer

  • B

    Adjust inventory levels based on historical sales data to match the anticipated seasonal demand.

See the whole paperTake it as a mock test

Question 8 of 23 in the IIT Madras BS Business Data Management (BDM) End Term paper sat on 28 Apr 2024, in the January 2024 term (IIT M FOUNDATION DIPLOMA AN EXAM QDF3 28 Apr 2024). It carries 1 mark.

This question was also asked in

More questions from this paper

  1. Q1What distinguishes an inferior good regarding its relationship with income?
  2. Q2A manufacturer finds that over the past year, there has been a shift in consumer preference within the two-wheeler mark…
  3. Q3If a pivot table analysis reveals that a lender’s portfolio has shifted from predominantly commercial loans to a more d…
  4. Q4Identifying and eliminating outliers in revenue data is crucial because they can:
  5. Q5How does an increase in the ordering cost per order affect the EOQ?
  6. Q6Which of the following is an example of the anchoring effect used as a nudge on e-commerce websites?
  7. Q7What is the underlying rationale for PayBuddy offering a BNPL service without charging interest or late fees?
  8. Q9How does the concept of homogeneous regions benefit the sampling process in surveys?
  9. Q10In strategic manpower planning, which of the factors is the least relevant for determining the number of employees need…
  10. Q11In the context of IT services, what is the primary purpose of maintaining a bench or buffer of employees?
  11. Q12If you color-code the data points on the scatter plot by "Product Category," which of the following statements would li…
  12. Q13Considering the given data, which category has the highest average revenue per unit?
  13. Q14The teacher wants to assign students grades based on their Maths marks using the IF function. Which Excel formula repre…
  14. Q15Four candidates are being considered for a Software Engineer position. The hiring committee has rated them based on the…
  15. Q16A company has noticed that its average days of inventory are significantly lower than the industry standard. Which of t…
  16. Q17Considering the sales data and inventory levels for SKU cities (distribution centres) like Hyderabad, Cochin, and Madra…
  17. Q18Which of the following best describes the strategic advantage of internal sourcing?{Select All that apply}
  18. Q19Imagine, you are an efficiency consultant hired by ABC Corp, a company that manufactures automotive parts. Your first a…
  19. Q20Let's consider a mobile gaming company that has launched a feature test to see the impact of a new game tutorial versio…
  20. Q21Let's consider a mobile gaming company that has launched a feature test to see the impact of a new game tutorial versio…
  21. Q22Let's consider a mobile gaming company that has launched a feature test to see the impact of a new game tutorial versio…
  22. Q23Let's consider a mobile gaming company that has launched a feature test to see the impact of a new game tutorial versio…