To Reduce Inventory Management Costs, Many Companies Use a System

question 8

Multiple Choice

To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

• A) just-in-time (JIT)
• B) level loading
• C) stock-outs
• D) logistics management
• E) enterprise resource planning (ERP)

Highlight the significance of critical thinking and its components in evaluating problem-solving processes.

Understand the application of mental sets and their impact on problem-solving efficiency.

Describe the procedure and benefits of employing backtracking in solving logical problems.

Acknowledge the concepts of productive thinking and its necessity for achieving specific goals.

---

Definitions:

Distribution Department

The division within a company responsible for the storage, handling, and shipping of products to customers.

Self-managing Teams

Groups of employees who are provided with the autonomy to plan, execute, and control their own tasks and processes without direct supervision.

Organizational Productivity

A measure of how efficiently and effectively a company uses its resources to produce outputs.

Group Development

The process through which a group progresses over time, involving stages of forming, storming, norming, performing, and adjourning.