Inventory Management Involves Determining

question 23

Multiple Choice

Inventory management involves determining:

• A)the right level of inventory that minimises the cost of carrying stock.
• B)the right level of inventory that minimises carrying costs and reduces the chance of being out of stock.
• C)the right level of inventory that minimises the possibility of losing customers due to no stock on hand.
• D)the optimum level of inventory to satisfy customer demand.

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Definitions:

Wearable Computers

Electronic devices that are worn on the body, often incorporating sensors and software to track health and activity data.

Specific Technology

A particular or specialized technology designed for a specific purpose or task.

Microcomputers

The smallest and least expensive category of general-purpose computers, also called micros, personal computers, or PCs.

Secondary Storage

Technology that can store very large amounts of data for extended periods.