Controlling Quality Is Associated with Which Supply Chain Management Element

question 85

Multiple Choice

Controlling quality is associated with which supply chain management element?

• A)customers
• B)facilities
• C)production
• D)inventory
• E)suppliers

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Definitions:

Finished Goods Inventory

Manufactured goods that are complete and ready for sale.

Lower of Cost

A principle typically applied in the valuation of inventory and financial assets, stating to record the asset at the lower of its historical cost or current market value.

Net Realizable Value

The estimated selling price in the ordinary course of business, minus the estimated costs of completion and the necessary costs to make the sale.

Inventory

The raw materials, work-in-progress products, and finished goods considered to be the part of a business's assets that are ready or will be ready for sale.