ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The two goals of effective inventory control are minimizing total inventory investment and carrying the right mix of products to ____ patient demand.
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satisfy
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supplicate
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placate
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deter
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Explanation:
Detailed explanation-1: -There are two main types of inventory control systems: the periodic and the perpetual system.
Detailed explanation-2: -Ans: Inventory management has two main concerns. One is the level of customer service, that is, to have the right goods, in sufficient quantities, in the right place, at the right time. The other is the costs of ordering and carrying inventories.
Detailed explanation-3: -The main purpose of inventory management is to help companies to have the right amount of stock to maximize profit, reduce costs, and not have tied up too much cash in a stock that could potentially become obsolete.
There is 1 question to complete.