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Does Inventory Management Matter? Flashcards | StudBud
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Does Inventory Management Matter?
Does Inventory Management Matter?
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Questions
10
Answers
1
Inventory costs are categorized many ways including which of the following?
Variable Costs
Indirect Costs
Direct Costs
All of the above
2
Artificial intelligence will be able to do repetitive, time consuming tasks - with _____ level of accuracy.
no
average
low
high
3
The implementation of 3D printing will allow businesses to what?
All of the above
Lower costs
Lower production rates
Create products closer to home
4
Inventory management is one of the most critical tasks of an organization.
True
False
5
Excessive inventory can be beneficial and cheaper for a business.
True
False
6
What is going to evolve with inventory managment?
Technology
3D Printing
both technology and 3D printing
Pen&Paper
7
A good inventory management strategy supports an organized warehouse.
False
True
8
What is one of the worst things you could do in a business because of low inventory?
none of the above
order more product to replenish
Close the store/business
turn away customers
9
Inventory management's overall objective is what?
Cost Control and Reduction of Stockouts
None of the above
Analyze Data
Track inventory
10
Inventory managers should pay close attention to what?
The consumer needs
Organization
demand planning
not to over stock
