BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are many different ways to keep track of inventory
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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: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.
Detailed explanation-2: -It is true that obsolescence, opportunity costs, and inspection are all examples of carrying costs. Carrying costs refers to the cost to hold and maintain inventory and run from spoilage costs to storage costs in terms of what affects the asset value and costs reported.
Detailed explanation-3: -3 important inventory management techniques The three most popular inventory management techniques are the push technique, the pull technique, and the just-in-time technique. These strategies offer businesses different pathways to meeting customer demand.
There is 1 question to complete.