ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Managers do not need to be mindful of the vendors they’re purchasing from. Most vendors are trustworthy and provide low cost items.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -The primary purpose of inventory management is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory.
Detailed explanation-2: -Improved Accuracy of Inventory Orders. Improved Warehouse Organization. Improved Warehouse Productivity. Save Time and Money. Improved Customer Retention and Engagement. 20-Nov-2019
Detailed explanation-3: -Fine-tune your forecasting. Use the FIFO approach (first in, first out). Identify low-turn stock. Audit your stock. Use cloud-based inventory management software. Track your stock levels at all times. Reduce equipment repair times. More items
There is 1 question to complete.