ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What key aspect of inventory is focused on when and how to create purchase orders to re-order new stock?
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Storage
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Systems and Tools
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Accounting
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Tracking
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Explanation:
Detailed explanation-1: -Four major inventory management methods include just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI).
Detailed explanation-2: -The most important thing to know about inventory planning is to understand the demands of the customer.” Other factors can complicate the planning process itself: Disorganized Data: You need historical inventory levels and sales information, but often this data resides in more than one system.
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