BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are 5 types of inventory managemnt
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Yes
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No
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Companies should pay equal attention to all five inventory types: raw materials inventory, work-in-progress (WIP) inventory, maintenance, repair, and operating (MRO) inventory, finished goods inventory, and packing materials inventory.
Detailed explanation-2: -The four types of inventory management are just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI). Each inventory management style works better for different businesses, and there are pros and cons to each type.
Detailed explanation-3: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.
There is 1 question to complete.