ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There is no right or wrong way to organize inventory. As long as it makes sense to you and your employees.
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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: -A large inventory carries the risk of spoilage, theft, damage, or shifts in demand. Inventory must be insured, and if it is not sold in time it may have to be disposed of at clearance prices-or simply destroyed. For these reasons, inventory management is important for businesses of any size.
Detailed explanation-2: -Proper inventory management helps you figure out exactly how much inventory you need to have on-hand. This will help prevent product shortages and allow you to keep just enough inventory without having too much in the warehouse. A good inventory management strategy leads to a more organized warehouse.
There is 1 question to complete.