ENTREPRENEURSHIP

ENTREPRENEURIAL OPERATIONS

INVENTORY MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Without an inventory system, Inventory can still be managed the same
A
True
B
False
C
Either A or B
D
None of the above
Explanation: 

Detailed explanation-1: -Beyond having too little or too much inventory, poor inventory management causes inefficiencies because you don’t have accurate real-time information on how much inventory you have. This increases the risk of mistakes in reordering inventory from suppliers or of selling nonexistent inventory.

Detailed explanation-2: -It can be prone to theft, damage, and spoilage. Having a large inventory can also lead to a reduction in sales. Regardless of the size of your company, having a proper inventory management system is very important for any business.

There is 1 question to complete.