BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Manage the amount of products
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Theft
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Errors
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Detailed explanation-1: -An inventory control system is a technology solution that manages and tracks a company’s goods through the supply chain. This technology will integrate and manage purchasing, shipping, receiving, warehousing, and returns into a single system. The best inventory control system will automate a lot of manual processes.
Detailed explanation-2: -Four popular inventory control methods include ABC analysis; Last In, First Out (LIFO) and First In, First Out (FIFO); batch tracking; and safety stock.
Detailed explanation-3: -Inventory control generally involves the following: Integrating barcode scanners with inventory tracking software. Establishing reorder point and demand forecasting. Keeping track of all SKUs and associated product data. Creating product bundles and kitting for maximum profits.
Detailed explanation-4: -A POS system, or point-of-sale system, facilitates transactions in retail sales. An example of a well-known POS system would be a cash register. Modern POS systems are a combination of hardware and software that often includes a barcode scanner, card reader, cash drawer, and receipt printer.