ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An effective inventory management minimise the investment in inventory by effectively meeting the ____
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Functional requirements
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Customer requirements
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Process reliability
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Potential value
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Explanation:
Detailed explanation-1: -Effective inventory management minimizes the investment in inventory by effectively meeting the . Answer: (A) Functional requirement” is a specific piece of equipment or product that is needed for a specific task or job. 3.
Detailed explanation-2: -The objectives of inventory management are as follows: To ensure a continuous supply of materials and stock so that production should not suffer at the time of customers demand. To avoid both overstocking and under-stocking of inventory.
Detailed explanation-3: -Enterprise resource planning (ERP) is an inventory management technique that minimizes inventory investment by having materials arrive at exactly the time they are needed for production.
There is 1 question to complete.