A Computerized Data Bank Containing Information on the Skills and Experience

question 7

Multiple Choice

A computerized data bank containing information on the skills and experience of all employees is called

• A) a replacement chart.
• B) a skills inventory.
• C) a compensation survey.
• D) management development.
• E) a human resources inventory.

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Definitions:

Shortage Costs

Costs incurred as a result of insufficient inventory, including potential lost sales, backorder handling, and decreased customer satisfaction.

Carrying Costs

The total cost of holding inventory, including storage, maintenance, insurance, and opportunity costs.

Opportunity Cost

The foregone benefit that could have been obtained from an option not chosen.

Inventory Holding

The costs associated with storing unsold goods, including warehousing, insurance, and depreciation.