When Maintaining Appropriate Inventory Level, a Purchasing Manager Should ________

question 174

Multiple Choice

When maintaining appropriate inventory level, a purchasing manager should ________.

• A) keep the inventory level low, to ensure that the firm's money is not being unwisely invested in excess resources
• B) ensure that all orders could be filled quickly, eliminating the need for back orders due to stockouts
• C) implement the production plan to acquire the desired amount of finished goods available on time at a low cost
• D) maintain adequate amount of inventory on hand at desired times and at a favorable price

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Definitions:

Research Articles

Scholarly writings that report on original research or review existing research findings in a specific field.

Abstract

A brief summary of the research, article, thesis, or review, outlining the main points and conclusions.

p Value

A statistical measure that helps determine the significance of results obtained in research, indicating the likelihood of the observed data given a particular hypothesis.

Schematic Thinking

The process of using social schemas, which are mental shortcuts, to organize and interpret information about the social world.