BUISENESS MANAGEMENT
INVENTORY CONTROL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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using systematic inventory control techniques
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ordering the material as and when the need arises
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by ordering in bulk quantities
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ordering the material at fixed interval irrespective of need
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Detailed explanation-1: -This one’s for manufacturers: when you’re looking to save costs in inventory management, you can apply the ‘Just in Time’ (JIT) strategy.
Detailed explanation-2: -What is Material Control? Material Control is a management function that is concerned with the storage, handling, and use of materials to minimize waste and improve inventory accuracy. This process can be beneficial for companies to reduce costs and improve organization and productivity.
Detailed explanation-3: -Inventory control involves various techniques for monitoring how stocks move in a warehouse. Four popular inventory control methods include ABC analysis; Last In, First Out (LIFO) and First In, First Out (FIFO); batch tracking; and safety stock.