Which Inventory Control System Is Designed to Maintain a Running

question 57

Multiple Choice

Which inventory control system is designed to maintain a running count of the items in inventory?

• A)Visual control system
• B)Perpetual inventory system
• C)ABC system
• D)JIT system

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Definitions:

Revenue Management

A strategy to maximize income by managing the sale of inventory through pricing and timing, commonly used in sectors like hospitality and airlines.

Differential Pricing

A pricing strategy where a company charges different prices for the same product or service to different customers or in different markets, based on factors like demand, cost, and customer value perception.

Marketing Mix

The set of actions, or tactics, that a company uses to promote its brand or product in the market, often described as the four Ps: Product, Price, Place, and Promotion.

Forecasting Function

A method or model used for predicting future data points or trends based on historical data.