Jensen Corporation Uses the ABC System of Inventory Management

question 226

Multiple Choice

Jensen Corporation uses the ABC system of inventory management. It has placed common bolts in a bin that is accessible to any employees needing these parts. When the bin gets low, an order is placed with the local hardware distributor to replace this item. The bolts would be a categorized as a(an) ____ item.

• A)A
• B)B
• C)C
• D)JIT

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Definitions:

Price of Oranges

The amount of money required to purchase a specific quantity of oranges in a given market.

Technological Machinery

Refers to machines and equipment developed through technological advances to perform tasks more efficiently than traditional methods.