ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Inventory management is important because ____
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It will help avoid dead stock
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It is not important
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You can focus on more important things if you have a good inventory management system
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It makes the business operations less efficient
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Explanation:
Detailed explanation-1: -Regardless of the size of your company, having a proper inventory management system is very important for any business. It can help you keep track of all your supplies and determine the exact prices. It can also help you manage sudden changes in demand without sacrificing customer experience or product quality.
Detailed explanation-2: -The most popular inventory accounting method is FIFO because it typically provides the most accurate view of costs and profitability.
There is 1 question to complete.