The Use of In-Store Displays and the Sale of Well-Known

question 55

Multiple Choice

The use of in-store displays and the sale of well-known national brands can effectively reduce selling costs through use of ________.

• A) self-service facilities
• B) just-in-time (JIT) inventory management
• C) vertical merchandising
• D) prototype stores

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Definitions:

Inventory Management

The practice of overseeing and controlling the ordering, storage, and use of components and finished products.

Inventory Classification

The process of categorizing inventory items based on their importance, such as ABC analysis which ranks items by their impact on total inventory cost.

Fixed Quantity Systems

Inventory control systems where a fixed amount of inventory is reordered when stock levels reach a certain point.

Fixed Period Systems

An inventory management strategy where orders are placed at fixed intervals, regardless of the current stock level.