ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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These are places where goods remain in their original crates, waiting to be broken down into more usable quantities.
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Staging areas
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Bulk storage areas
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Packing areas
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Assembly areas
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Explanation:
Detailed explanation-1: -Calculating Economic Order Quantity (EOQ) It’s important to buy the right amount of inventory stock – neither too little, nor too much. You use the EOQ formula to determine the optimal order quantity – one that minimises the costs of ordering, receiving and holding inventory.
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