ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Without an inventory system, Inventory can still be managed the same
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True
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False
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Either A or B
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None of the above
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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.
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