The Traditional Approach to Inventory Management to Ensure Sufficient Quantity

question 38

Multiple Choice

The traditional approach to inventory management to ensure sufficient quantity on hand to maintain production is known as

• A)safety stock.
• B)just-in-time production.
• C)economic order quantity.
• D)optimal inventory quantity.

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Definitions:

Unrelated Industries

Sectors or fields of business that do not share common markets, products, services, or technologies.

Attraction-Selection-Attrition Theory

is a theory that explains how organizations become more homogeneous over time by attracting, selecting, and retaining individuals with similar characteristics.

Corporate Culture

The shared values, beliefs, norms, and practices that characterize an organization and guide its employees' behavior.

Dominant Values

These are the core principles and beliefs that are most widely shared and emphasized within an organization.