BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the typical measures of inventory commitment?
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT, CUSTOMER SATISFACTION
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DEPTH, WIDTH OF COMMITMENT
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT
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TIME DURATION, DEPTH, WIDTH OF COMMITMENT, EASY ACCESS
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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: -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-3: -Lead time in inventory management is the lapse in time between when an order is placed to replenish inventory and when the order is received. Lead time affects the amount of stock a company needs to hold at any point in time.
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