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September 2025 term · Industry 4.0 · BSMS4001

Industry 4.0 Quiz 2: 23 November 2025 (September 2025 term)

The IIT Madras BS Industry 4.0 (Industry 4.0) Quiz 2 paper sat on 23 Nov 2025, in the September 2025 term: 19 questions for 20 marks in 120 minutes. Every question is below with its answer. Take it as a timed mock test to be marked, or read it through first.

Questions
19
Marks
20
Duration
120 min
MCQ
8
Numerical
8
MSQ
3
Take as mock testPractise with answers

Updated

Official paper: IIT M DEGREE AN EXAM QDB2 23 Nov 2025 NEW · No negative marking.

Question 1

+1 markOne correct option

Choose the correct term from the Column B for the description given in Column A. Note that one to-one mapping in the table is not necessary.

Column AColumn B
a.1 You can order a mobile phone on Amazon, but can collect the product from the showroomb.1 Impulse buying
a.2 To go to the office, you require a formal pair of trousers. While searching for trousers on Myntra, you came across a leather belt that perfectly complemented your chosen trousers, prompting you to make the purchase.b.2 Multi-channel retailing
a.3 After acquiring a new mobile phone, you considered safeguarding it from scratches by investing in a phone cover. Now, the phone and the phone-cover are---b.3 Complementary product
b.4 Omni-channel retailing
b.5 Substitution product
b.6 Inventory-dependent demand
  1. A

    a.1 : b.4, a.2. : b.3, a.3: b.1

  2. B

    a.1 : b.4, a.2. : b.1, a.3: b.3

  3. C

    a.1 : b.4, a.2. : b.1, a.3: b.5

Show answer

Correct answer

  • B

    a.1 : b.4, a.2. : b.1, a.3: b.3

Question 1 on its own page

Question 2

+1 markNumerical answer

In a EOQ calculation, the estimated and actual parameter values are given in Table 1. What is the error in the EOQ calulation {error= (Qestimated - Qactual)/ Qactual }. (round your answer to two decimal without the percentage sign eg, enter 10.12 if your answer is 10.12 %)

Show answer

Correct answer: 41 (accepted within ±1)

Question 2 on its own page

Question 3

+1 markOne correct option

Match the following columns by selecting the correct name from Column B for the labels in column A which are depicted in the ‘Figure: EOQ model’ below:

  1. A

    A:Cost; B:Quantity; C:Total Cost; D:Carrying cost; E:Order cost; F:EOQ(Q*)

  2. B

    A:Cost; B:Quantity; C:Total cost; D:Order cost; E:Carrying cost; F:EOQ(Q*)

  3. C

    A:Quantity; B:Cost; C:Total Cost; D:Carrying cost; E:Order cost; F:EOQ(Q*)

  4. D

    A:Cost; B:Quantity; C:Total Cost; D:Order cost; E:Carrying cost; F:EOQ(Q*)

  5. E

    A:Cost; B:EOQ(Q*); C:Total Cost; D:Order cost; E:Carrying cost; F:Quantity

  6. F

    A:Total cost; B:EOQ(Q*); C:Cost; D:Order cost; E:Carrying cost; F:Quantity

  7. G

    A:Total cost; B:Quantity; C:Cost; D:Carrying cost; E:Order cost; F: EOQ(Q*)

Show answer

Correct answer

  • B

    A:Cost; B:Quantity; C:Total cost; D:Order cost; E:Carrying cost; F:EOQ(Q*)

Question 3 on its own page

Question 4

+1 markOne correct option

Pranjal is shopping in a departmental store. He has a list of items which he prepared at home itself. He picked a few packets of tea as part of his list. He could see coffee packets and milk- powder packets in the neighbouring shelves. He picked a few milk-powder packets, however these are not part of his list. He was searching for Good-day biscuits. He could identify only one packet in the shelf remaining. However, there were lot of Sun-fist biscuits lying in the next shelf. So he picked ten Sun-fist packets. Now map the scenarios with the items below:

  1. A

    P1-S1, P2-S3, P3-S4

  2. B

    P1-S2, P2-S1, P3-S3

  3. C

    P1-S2, P2-S1, P3-S4

Show answer

Correct answer

  • B

    P1-S2, P2-S1, P3-S3

Question 4 on its own page

Question 5

+1 markOne correct option

Suppose, you are responsible for material purchase in an organization. You have demand forecast of a product for next four weeks which are 3, 4, 2 and 4 units respectively. You need to purchase one type of raw material to produce the final product to meet the above demand. Consider, one unit of the final product requires one unit of this raw material. Whenever an order is placed, your organization needs to incur a cost of $4 irrespective of the quantity ordered. Purchasing cost of the raw material is $2 per unit. Holding cost of an item not gone for production at the end of a week is $0.5 per week. You can order a maximum of 5 units in a week and the warehouse has capacity to store upto 4 units of inventory in a week. Note that you need to meet the demand in every week.
Solve the above problem using dynamic programming ( backward recursion) and answer the given sub-questions for this problem.

What does the state variable represent?

  1. A

    How many units of the raw material needs to be purchased in a week

  2. B

    Ending inventory with the warehouse in each week

  3. C

    Beginning inventory with the warehouse in each week

Show answer

Correct answer

  • C

    Beginning inventory with the warehouse in each week

Question 5 on its own page

Question 6

+1 markOne correct option

Suppose, you are responsible for material purchase in an organization. You have demand forecast of a product for next four weeks which are 3, 4, 2 and 4 units respectively. You need to purchase one type of raw material to produce the final product to meet the above demand. Consider, one unit of the final product requires one unit of this raw material. Whenever an order is placed, your organization needs to incur a cost of $4 irrespective of the quantity ordered. Purchasing cost of the raw material is $2 per unit. Holding cost of an item not gone for production at the end of a week is $0.5 per week. You can order a maximum of 5 units in a week and the warehouse has capacity to store upto 4 units of inventory in a week. Note that you need to meet the demand in every week.
Solve the above problem using dynamic programming ( backward recursion) and answer the given sub-questions for this problem.

What does the action set represents?

  1. A

    How many units of the raw material needs to be purchased in a week

  2. B

    Ending inventory with the warehouse in each week

  3. C

    Beginning inventory with the warehouse in each week

Show answer

Correct answer

  • A

    How many units of the raw material needs to be purchased in a week

Question 6 on its own page

Question 7

+1.5 marksOne correct option

Which of the following model corresponds to Exponential Smoothing forecasting model?

  1. A
  2. B
Show answer

Correct answer

  • A
Question 7 on its own page

Question 8

+1 markOne correct option

Which of the following examples can be referred as cyclic pattern?

  1. A

    Economic recission

  2. B

    Increases Ceiling Fan sales during winters

  3. C

    Increased tourist footfall towards the end of the year

Show answer

Correct answer

  • A

    Economic recission

Question 8 on its own pageAlso asked in End Term 24 Dec 2023, Quiz 2 12 Apr 2026

Question 9

+1 markOne or more correct options

Which are the two primary tasks of time series forecasting?

Select all that apply.

  1. A

    Identifying pattern

  2. B

    Identify variables of interest

  3. C

    Discovering relationships amongst variables of interest

Show answer

Correct answers

  • A

    Identifying pattern

  • C

    Discovering relationships amongst variables of interest

Question 9 on its own pageAlso asked in End Term 24 Dec 2023, End Term 24 Dec 2023, End Term 1 Sept 2024, End Term 1 Sept 2024

Question 10

+1.5 marksOne or more correct options

Select the cost(s) from the following list which contribute(s) to the shortage cost:

Select all that apply.

  1. A

    Loss of customer goodwill

  2. B

    Loss due to customer return

  3. C

    Cost of losing a customer

  4. D

    Loss of profit associated with not delivering the product

Show answer

Correct answers

  • A

    Loss of customer goodwill

  • C

    Cost of losing a customer

  • D

    Loss of profit associated with not delivering the product

Question 10 on its own pageAlso asked in Quiz 2 3 Dec 2023, Quiz 2 3 Dec 2023, Quiz 2 16 Mar 2025, Quiz 2 16 Mar 2025 and 2 more

Question 11

+1 markNumerical answer

Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:

What is the Critical Ratio?( round off to two decimal places)

Show answer

Correct answer: 0.67 (accepted within ±0.02)

Question 11 on its own page

Question 12

+1 markNumerical answer

Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:

What is the optimal order quantity that minimizes Ramu’s total cost?

Show answer

Correct answer: 935 (accepted within ±5)

Question 12 on its own page

Question 13

+1 markOne or more correct options

Ramu puts up a stall for Diwali Light (Diya) every year. He builds a Diya at a cost of Rs. 1 and earns Rs.2 by selling each Diya. Any Diya not sold by Diwali will be discounted to 50 Paisa. From his experience, Ramu knows that the demand is Uniformly Distributed within [800, 1000] units. Then answer the given subquestions:

If the cost of overstocking is less than the cost of understocking, where will the optimal order quantity lies in the interval [800, 1000] units?

Select all that apply.

  1. A

    Toward left of the mean of uniform distribution [800,1000]

  2. B

    At the mean of uniform distribution [800,1000]

  3. C

    Towards right of the mean of uniform distribution [800,1000]

Show answer

Correct answer

  • C

    Towards right of the mean of uniform distribution [800,1000]

Question 13 on its own page

Question 14

+1 markNumerical answer

Slipline Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:

What should be the order quantity which minimizes the total cost to Slipline Co.

Show answer

Correct answer: 1000

Question 14 on its own page

Question 15

+1 markNumerical answer

Slipline Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:

What is the number of orders per year?

Show answer

Correct answer: 18

Question 15 on its own page

Question 16

+1 markNumerical answer

Slipline Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:

What is the annual order cost?

Show answer

Correct answer: 2700

Question 16 on its own page

Question 17

+1 markNumerical answer

Slipline Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:

What is the average inventory in the system?

Show answer

Correct answer: 500

Question 17 on its own page

Question 18

+1 markNumerical answer

Slipline Co. requires 1500 units of plastic ribbon per month. Each plastic ribbon costs Rs. 27 in the market. Placing an order costs Rs. 150 to Slipline Co. and the inventory carrying charges work out to 20% of the unit ribbon cost per year. Calculate the given subquestions:

What is the annual inventory carrying cost?

Show answer

Correct answer: 2700

Question 18 on its own page

Question 19

+1 markOne correct option

Choose the correct category in Column B for the costs in Column A

  1. A

    (1): (b), (2): (c), (3): (a)

  2. B

    (1) : (c) , (2) : (b), (3) : (a)

  3. C

    (1) : (a) , (2) : (b), (3) : (c)

Show answer

Correct answer

  • A

    (1): (b), (2): (c), (3): (a)

Question 19 on its own page