How Have Many Companies Significantly Lowered Inventory Levels and Costs

question 77

Multiple Choice

How have many companies significantly lowered inventory levels and costs?

• A)They use activity-based costing.
• B)They utilize an enterprise resource planning system.
• C)They have a just-in-time method.
• D)They focus on a total-quality management system.

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Definitions:

SWOT Analysis

SWOT Analysis is a strategic planning tool that evaluates an organization's Strengths, Weaknesses, Opportunities, and Threats to inform decision-making and strategy development.

Competitive Advantage

A unique attribute or ability that allows an organization to outperform its competitors.

Marketing Strategy

A long-term approach designed to achieve a company's marketing goals by creating a unique position in the marketplace through the selection of a target market and the formulation of a marketing mix.

Market-oriented

A business approach focused on understanding and meeting the needs and wants of customers in a specific market.