The Inventory Method in Which You Look at the Inventory

question 10

Multiple Choice

The inventory method in which you look at the inventory on hand and you reorder when the stock level of an item appears to be low is called ________.

• A) Visual control
• B) Proximal management
• C) Estimation
• D) Basic control
• E) All of the above

---

Definitions:

Machinery

Mechanical devices or assemblies, often powered by electricity or engines, that perform specific tasks, commonly used in industries for production processes.

Petroleum

A natural, flammable liquid found in the Earth's formations, composed of a complex mixture of hydrocarbons and used primarily as fuel.

Opportunity Cost

The value of the best alternative forgone when a decision is made to pursue a particular course of action.

Machinery

Mechanical devices or equipment used in various industries to perform tasks more efficiently than manual labor.