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Which of the Following Statements Are Correct

question 26

Multiple Choice

Which of the following statements are correct?


Definitions:

Centralized Inventory

A management approach where all stock is kept in a single location, facilitating easier inventory control and management.

Decentralized Inventory

An inventory management strategy where stock is kept in multiple locations to reduce delivery times and increase service levels.

Facility Layout

The arrangement of physical elements in a factory or workspace to optimize operations, including machinery, equipment, and staff.

Space Versus Equipment

The trade-off or balance between the physical area available for operations and the machinery or equipment required to produce goods or services.

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