Every Business Must Manage Its Costs,but Not Every Business Can

question 1

True/False

Every business must manage its costs,but not every business can have a cost advantage.

---

Definitions:

Review Interval

The scheduled period between evaluations of a process, system, or performance, allowing for adjustments and improvements.

Safety Inventory Levels

Quantities of stock kept on hand to protect against variability in demand or supply, ensuring product availability.

Cycle Inventory

The portion of inventory available due to the replenishment process, reflecting the quantity of goods that cycle through the supply chain.

Retailers

Businesses that sell products directly to consumers through various channels, including physical stores and online platforms.