________ Practices Can Be External or Internal

question 141

Short Answer

________ practices can be external or internal.

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Definitions:

Fixed Period Systems

An inventory management strategy where orders are placed at fixed intervals, regardless of the current stock level.

Perpetual Inventory System

A system that keeps track of each withdrawal or addition to inventory continuously, so records are always current.

Buffer Stock

An inventory reserve kept on hand to protect against variability in demand or supply.