To Achieve Large Inventory Savings,you Need ______

question 55

Multiple Choice

To achieve large inventory savings,you need ______.

• A)an annual replenishment system
• B)large shipments of purchased materials and components
• C)frequent shipments of purchased materials and components
• D)a smaller number of units to be produced and sold

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Definitions:

CIF Agreements

Contracts that stipulate the seller is responsible for the cost, insurance, and freight of goods being transported to a designated location.

Risk Of Loss

The responsibility for the cost of loss or damage to goods during shipment, distribution, or within a contractual period.

Carrier

A carrier refers to an individual or entity engaged in the business of transporting goods or people for any form of compensation.

Good-faith Purchaser

A person who buys property without notice of any other claim to or interest in it and for a fair value, thereby gaining legal rights to it over any previous claims.