Which of the Following Are Advantages of Reducing Inventory

question 5

Multiple Choice

Which of the following are advantages of reducing inventory?
I. Engineering changes can be made sooner.
II. Quality can be improved.
III. Less space is needed in manufacturing.
IV. Lead time will be shorter.

• A) all the above
• B) only I, II and III
• C) only I, II and IV
• D) only II, III and IV
• E) only III and IV

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Definitions:

Median

The middle value in a sorted list of numbers, which separates the higher half from the lower half of the dataset.

Mean

The calculation of the arithmetic average involves adding up all the values in a series and dividing the total by the quantity of numbers.

Rounded

The process of approximating a number to a specified degree of precision, often to the nearest whole number.

Rounding Rules

Guidelines used in mathematics and statistics for reducing the number of digits in a numeric value according to certain criteria, typically to make the value simpler or more intuitive.