A Special Type of Contingency Plan That Is Used When

question 121

Short Answer

A special type of contingency plan that is used when events are sudden and devastating and require immediate response is called _____.

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Definitions:

Inventory Types

Categories of inventory such as raw materials, work-in-progress, finished goods, and maintenance, repair, and operations (MRO) supplies.

Maintenance/Repair/Operating Supply

Items and materials necessary for the upkeep and repair of operations, equipment, and facilities in an organization.

Safety Stock Inventory

A quantity of inventory kept on hand as a buffer against fluctuations in demand or supply.

Inventory Model

An analytical approach or mathematical formula used to manage and control stock levels, optimizing inventory costs and meeting demand.