A Question Related to Inventory Levels That a Company Needs

question 60

Multiple Choice

A question related to inventory levels that a company needs to ask is,______?

• A)How can we minimize the cost of inventories
• B)Where should these inventories be located
• C)How can these inventories be insured
• D)How can these inventories be transported

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Definitions:

Gantt Chart

A visual project management tool that displays tasks or events along a time axis, allowing for the planning and tracking of project progress.

PERT Chart

A project management tool used to schedule, organize, and coordinate tasks within a project, standing for Program Evaluation and Review Technique.

Manufacturing

The process of converting raw materials or components into finished goods through the use of labor, machinery, and processing techniques.

Production Control

Creates a well-defined set of procedures for coordinating people, materials, and machinery to provide maximum production efficiency.