ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are many different ways to keep track of inventory
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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: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO. However, some people recognize only three types of inventory, leaving out MRO. Understanding the different types of inventory is essential for making sound financial and production planning choices.
Detailed explanation-2: -The three most popular inventory management techniques are the push technique, the pull technique, and the just-in-time technique.
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