GK
MARKETING MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Manage the amount of products
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Theft
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Errors
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None of the above
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Detailed explanation-1: -Inventory control generally involves the following: Integrating barcode scanners with inventory tracking software. Establishing reorder point and demand forecasting. Keeping track of all SKUs and associated product data. Creating product bundles and kitting for maximum profits.
Detailed explanation-2: -Objectives of Inventory Control To keep inactive, waste, surplus, scrap and obsolete items at the minimum level. To minimize holding, replacement and shortage costs of inventories and maximize the efficiency in production and distribution. To treat inventory as investment which is risky.
Detailed explanation-3: -Reduce your storage costs. Improve your sales forecasts. Handle returned orders effectively. Improve your fulfilment accuracy. Prevent theft and fraud. Better satisfy your customers. 05-Feb-2020