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Purchasing & Inventory Control Flashcards | StudBud
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Purchasing & Inventory Control
Purchasing & Inventory Control
11 terms
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StudBud Administration
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Inventory, buying
Flashcards
11 cards
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Questions
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Answers
1
This best describes a JUST IN TIME inventory system
a computerized system that replenishs product as it's sold
A system that replenishs stock just before it is needed
Periodic counts to determine stock levels
A physical inventory count
2
An inventory system that keeps track of stock on a continual basis is called ...
Physical Inventory
Just in Time Inventory
None of the above
Perpetual Inventory
3
A buyer is ...
Someone who sells products to a store
All of the above
Someone who shops in a store
Person who purchases merchandise for a store
4
When checking in a shipment you would use this document
Invoice
Purchase Order
Stock Sheet
Packing Slip
5
An inventory system in which you count a portion of the inventory each day is called ...
Physical Inventory
Perpetual Inventory
Cycle Counts
Stock Turnover
6
A business from which a buyer purchases merchandise is called ...
Buyer
Vendor
Retailer
Wholesaler
7
This is an inventory where you count all of the product you have on hand
Perpetual Inventory
Physical Inventory
Perpeptual Inventory
Physical Exercise
8
The maker doesn’t need it, the buyer doesnt want it, and the user doesnt know they're using it.
A Candle
A Car
A Castle
A Coffin
9
A tool that measures how often stock is sold during a period of time is called ...
Stock Turnover
Stock Market
A Hammer
Stockholm
10
To be a buyer you must be good at which of the following?
Be good with planning and numbers
Know the company's merchandise
Must be good with negotiating a good price
All of the above
11
The amount of money available to a buyer to purchase product is called ...
Open all night
Inventory
Stock
Open to Buy
