BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Taking inventory (count) of all merchandise in stock on a daily basis
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Planning
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Organizing / Staffing
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Leading
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Controlling
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Explanation:
Detailed explanation-1: -Inventory control involves various techniques for monitoring how stocks move in a warehouse. 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-2: -The best way to keep track of inventory is with an easy-to-use, robust inventory management software system. With inventory management software, you can get real-time alerts, add meaningful pictures to your inventory list, and utilize barcodes and QR codes to automate otherwise tedious, error-prone processes.
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