BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Instruct employees to verbally tell a manager each time there is a return
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Have customers complete a form with name, address, reason for return, and signature
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Have a manager take a picture of each item that is returned
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Have employees record the return on paper after the customer leaves the store
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Detailed explanation-1: -The four types of inventory management are just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI). Each inventory management style works better for different businesses, and there are pros and cons to each type.
Detailed explanation-2: -In this article we’ll dive into the three most common inventory management strategies that most manufacturers operate by: the pull strategy, the push strategy, and the just in time (JIT) strategy.
Detailed explanation-3: -Freedom and passion, not money, is the main motivation. Nearly two-thirds of respondents said they had started their own business for one of those two reasons. On the other hand, money is not as much of a factor for many small business owners: Just 8% of respondents said that was their main motivation.