ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Poor planning involves forecasting demand, identifying suppliers and setting clear goals and timelines.
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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: -Demand planning can help businesses avoid the perils of overstocking-such as increased inventory carrying costs and financial situations that require the use of product discounts or other temporary measures to alleviate overstocking by selling inventory as quickly as possible.
Detailed explanation-2: -Ans: The correct option is C. Demand Forecasting is based on scientific methods and proper judgment in order to correctly predict the future demand for a product or service.
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