Which of the Following Represents a Method of Managing Inventory

question 63

Multiple Choice

Which of the following represents a method of managing inventory designed to minimize a company's investment in inventories by scheduling materials to arrive at the time they are needed for production?

• A)The economic order quantity (EOQ)
• B)Material resource planning (MRP)
• C)First-in, first-out (FIFO)
• D)Just-in-time (JIT)

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Definitions:

Passive Learning

A learning style where the learner receives information without actively engaging or interacting with the material, often leading to lower retention rates.

Learning Experiences

Events or activities from which individuals acquire new knowledge or skills, contributing to personal or professional growth.

Judging

The act or process of forming opinions or conclusions about people or situations based on available information and personal perspectives.

Organizational Conditions

The circumstances or environment within an organization that affect its operations and the well-being of its members.