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Walmart Ordered a Large Number of Backpacks for the Start

question 90

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Walmart ordered a large number of backpacks for the start of the school year expecting that demand for the product would be high.However,the backpacks failed to sell and Walmart realizes that it over-ordered the product.Now it has decided to sell off its inventory to a discount retailer rather than keep the stock in its warehouses.For Walmart,the backpacks best represent a type of inventory called anticipative inventory.


Definitions:

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that categorizes human needs into a hierarchy, from basic physiological needs to self-actualization.

Individual Needs

The specific requirements or preferences of a single person, often considered in healthcare, education, and customer service.

Institutional Markets

Markets composed of customers like schools, hospitals, and governments that acquire goods and services for use in delivering their own services.

Churches

Churches are places of worship for followers of Christianity, also serving as community centers for various religious and social activities.

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