State the Six Functions That Make Up the Inventory and Distribution

question 51

Essay

State the six functions that make up the inventory and distribution cycle and,for each function,identify the related documents and/or records that would be used by a manufacturing company.

---

Definitions:

Null Hypothesis

A default hypothesis that there is no significant difference or relationship between specified populations or variables, used in statistical testing.

ANOVA

Stands for Analysis of Variance, a statistical method used to compare means of three or more samples to understand if at least one of the sample means differs significantly from the others.

Mean Square

A statistical measure used in variance analysis, computed by dividing the sum of squares by the degrees of freedom.

Error

The difference between the observed value and the true value of a parameter in data, indicative of the degree of inaccuracy or deviation.