To Reduce Inventory Management Costs, Many Companies Use a System

question 145

Multiple Choice

To reduce inventory management costs, many companies use a system called ________, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation.

• A) just in time (JIT)
• B) level loading
• C) stock outing
• D) logistics management
• E) enterprise resource planning (ERP)

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Definitions:

Larceny

The wrongful taking and carrying away of another person’s personal property with the intent to permanently deprive the owner of the property. Some states classify larceny as either grand or petit, depending on the property’s value.

Force

The application of physical power or coercion; in legal contexts, it refers to compulsion by threat or physical action.

Robbery

The act of forcefully and unlawfully taking personal property of any value from another; force or intimidation is usually necessary for an act of theft to be considered a robbery.

Prosecuted

The process by which a person is charged with a crime and brought to trial, typically by government authorities.