ECONOMICS

Detailed explanation-1: -Blind check method. A method of checking whereby the receiver writes the description of the merchandise, counts the quantities received, and lists them on a blank form or dummy invoice. The list is then compared to the actual invoice after the blind check is made.

Detailed explanation-2: -Inventory management is a technique of controlling, storing, and keeping track of your inventory items. Inventory management is an essential component of supply chain management, as it regulates all the operations that are involved from the moment an item enters your store until it has been dispatched.

Detailed explanation-3: -With periodic review systems, products are ordered at the same time each period. The number of items ordered is determined based on quantity levels at the end of each period. There is no set reorder level for periodic review systems.