COST ACCOUNTING
INVENTORY AND PRODUCTION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the process of forecasting the need for a spare part in the future by using supporting data
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scheduling of ordering spare parts to distributors or suppliers to fill in used stock
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the process of selecting an item Parts Numbers (SKU) to be used as stock items or eligible to be used as stock to support needs
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activities to report on the performance that we have achieved
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Detailed explanation-1: -The stock keeping unit (SKU) is an alphanumeric code assigned to inventory that allows retailers to track their stock, measure sales by product and category, design store layouts and flow, and enhance shopping experiences. These codes are designed by retailers based on criteria they deem important.
Detailed explanation-2: -An SKU, short for “stock keeping unit", is a unique number combination used by retailers to identify and track products. It’s usually 8 characters long and made up of letters and numbers.
Detailed explanation-3: -A unique identification number that defines an item at the identifiable inventory level; for example, in retail applications, the SKU may designate style, size and color.
Detailed explanation-4: -A Stock Keeping Unit (SKU) is a unique identifier for a product, typically assigned by a retailer or manufacturer. It is used to track inventory and is typically associated with a product’s barcode. An example of a SKU is XYZ12345. This would be the unique identifier for a specific product, such as a T-shirt.