ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the statement below is true? Function of Inventory.
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To slow production requirement
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To take advantages of EOQ
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To hedge against price hike
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To fulfill production from supplier
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Explanation:
Detailed explanation-1: -True (Introduction, easy) The overall objective of inventory management is balancing the cost of inventory against the cost of providing reasonable levels of customer service.
Detailed explanation-2: -What happens to the cost of the inventory policy when the service level increases? The cost of the inventory policy increases dramatically with increases in service level.
There is 1 question to complete.