ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buffer Stock
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Pipeline inventory
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Finished goods inventory
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Work in progress inventory
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Anticipation inventory
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Detailed explanation-1: -Raw Materials Materials that are needed to turn your inventory into a finished product are raw materials. These inventory items are bits and pieces of component parts that are currently in stock but have not yet been used in either work-in-process or finished goods inventory.
Detailed explanation-2: -Maintenance, repair, and operating supplies-or MRO goods-are items put in place to maintain tasks in the production process. These goods are usually a major component of the production process but are not directly a part of the finished product. Examples of MRO goods include gloves, packing materials, tools, etc.
Detailed explanation-3: -Raw material inventory is the inventory at the beginning of a process that has not yet been transformed or “worked on” by the process.