________ Involves Monitoring Performance and Making Necessary Changes

question 40

Multiple Choice

________ involves monitoring performance and making necessary changes.

• A)Budgeting
• B)Planning
• C)Organizing
• D)Leading
• E)Controlling

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Definitions:

Continuous Review

A perpetual inventory tracking system where the inventory level of an item is constantly monitored, and orders are placed as soon as it drops below a predetermined level.

Lead Time

The total time taken from the initiation to the completion of a production process, including the time required for ordering materials and manufacturing.

Review Interval

The predefined period between successive evaluations or assessments of a system, process, or performance.

Supply Reduction

A decrease in the amount of goods provided in the market, which can result from various factors, including production cuts or supply chain disruptions.