A Periodic Review System Is a System in Which an Item's

question 41

True/False

A periodic review system is a system in which an item's inventory position is reviewed periodically rather than continuously.

---

Definitions:

Traditional Hardware

Conventional physical devices and tools, as opposed to software or digital platforms.

Dynamic Pricing Policy

A pricing strategy where prices are adjusted in real-time based on demand, market conditions, and customer behavior.

Flexible-price Policy

A pricing strategy where the selling price of a product or service can fluctuate based on market conditions, competition, and consumer demand.

Target Pricing

Target pricing is a pricing strategy where the selling price is determined by estimating a competitive price in the market and working backward to calculate costs, aiming for a certain profit margin.