ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lead time
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Warehousing
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Usage rate
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Safety stock
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Detailed explanation-1: -1. Process of receiving goods. The act of handling products into the warehouse and into the system pick-up can be applied to single products, items, liters, boxes, packages, crates, kilograms, or pallets. The best way to receive a product is through an Advance Shipping Notice (ASN) from the supplier.
Detailed explanation-2: -Warehouse management encompasses the principles and processes involved in running the day-to-day operations of a warehouse. At a high level, this includes receiving and organizing warehouse space, scheduling labor, managing inventory and fulfilling orders.
Detailed explanation-3: -Warehousing is the act of storing goods that will be sold or distributed later. While a small, home-based business might be warehousing products in a spare room, basement, or garage, larger businesses typically own or rent space in a building that is specifically designed for storage.