What Is the Goal of Inventory Control

question 63

Multiple Choice

What is the goal of inventory control?

• A)to minimize inventory levels while maintaining an adequate supply to meet customer demands
• B)to maximize inventory levels to prevent any possibility of stock-outs
• C)to determine order timing and order quantity
• D)to integrate JIT to reduce risks of obsolescence, theft, and damage

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Definitions:

Detect Fraud

The process of identifying and preventing deceptive actions typically involving the intentional misrepresentation of information for personal gain.

Prevent Fraud

Measures and strategies put in place to detect, prevent, and minimize fraudulent activities.

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Software entities that perform tasks autonomously on behalf of users, based on certain rules or learning algorithms.

Intelligent Agents

Software entities that perform tasks autonomously, based on pre-set conditions or adaptive learning.