ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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pharmacy technician to manually reorder.
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computer to automatically reorder.
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alert that tells the pharmacist to reorder.
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pharmacist to call the stock market.
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Detailed explanation-1: -The reorder point for replenishment of stock occurs when the level of inventory drops down to zero. In view of instantaneous replenishment of stock the level of inventory jumps to the original level from zero level. In real life situations one never encounters a zero lead time.
Detailed explanation-2: -A reorder point is the level of inventory at which a business should place a new order or run the risk that stock will drop below a comfortable level, or even down to zero-leaving customers unhappy and orders unfulfilled. Usually, ROP refers to buying inventory to replenish stock.
Detailed explanation-3: -An automatic reordering system orders merchandise when stock-on-hand reaches a pre-determined reorder point. An automatic reorder can be generated by a computer on the basis of a perpetual inventory system and reorder point calculations.