COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Inventory models for the replenishment of inventory.
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Inventory Order System
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Inventory Shrinkage
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Inventory Policies
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Reorder Point
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Explanation:
Detailed explanation-1: -The inventory replenishment meaning, otherwise known as stock replenishment, refers to the process of inventory moving from reserve storage to primary storage, then onto picking locations.
Detailed explanation-2: -A reorder level is set that allows inventory to be drawn down to the buffer stock level within the lead time if average usage rates are experienced. Replenishment orders are placed in a fixed predetermined amount that is timed to be received at the end of the supply lead time.
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