What Is the First Step an HR Manager Must Take

question 58

Multiple Choice

What is the first step an HR manager must take when basing a job specification on statistical analysis?

• A) testing applicants
• B) analyzing the job
• C) writing task statements
• D) testing candidates for skills

---

Definitions:

EOQ Model

Economic Order Quantity Model, an inventory management formula that determines the optimal order size to minimize the sum of ordering, carrying, and stockout costs.

Inventory Management

The practice of overseeing and controlling the ordering, storage, and use of components or finished goods held in stock.

Inventory Carrying Charge

The total cost associated with holding inventory in stock, including storage, insurance, taxes, depreciation, and opportunity costs.

Order Quantity

The number of units ordered at once from a supplier, balancing between holding costs and ordering costs to achieve optimal inventory levels.