BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Managing inventory is important to avoid surpluses and shortages
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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: -Inventory management helps companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage.
Detailed explanation-2: -Having enough inventory to satisfy customers is an important part of a retailer’s business process. Preventing stockouts can help a company make consistent profits and maintain customer loyalty. Understanding how to prevent stockouts can help you keep products ready for customers.
There is 1 question to complete.