To Reduce Inventory Management Costs, Many Companies Use a System

question 18

Multiple Choice

To reduce inventory management costs, many companies use a system called ________, which involves having goods delivered exactly when they are needed.

• A) reduction-inventory management
• B) just-in-time inventory management
• C) limited inventory logistics
• D) supply chain management
• E) economic order quantity

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Definitions:

Benefits

Advantages or positive effects that something provides, often used in the context of employment perks or product features that meet customer needs.

Extensive Decision Making

A thorough and detailed process of evaluating all options before making significant choices, typically involving substantial investment or risk.

Buying Decision

refers to the process or outcome when a consumer or organization chooses to purchase a product or service after considering various factors.

Low-involvement Products

Goods that require minimal thought and effort from the consumer before purchase due to their routine nature or low price.