Which of the Following Is Incorrect Regarding Inventory Management

question 58

Multiple Choice

Which of the following is incorrect regarding inventory management?

• A)The two fundamental inventory decisions are when to order and what to order
• B)Inventory management applies to goods and to services
• C)Different types of inventory characteristics require different approaches for control
• D)SKUs are often aggregated or partitioned into groups with similar characteristics or dollar value

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Definitions:

Blue Ocean Strategy

A business strategy that focuses on creating new markets and demand, rather than competing in existing markets.

Competitive Advantages

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, brand reputation, and customer service.

Core Competencies

Unique abilities or strengths of an organization that provide competitive advantage and cannot be easily imitated by others.

Target Markets

These are specific groups of consumers or organizations a business aims to serve or sell its products and services to.