The Goal of Inventory Control Is To

question 48

Multiple Choice

The goal of inventory control is to:

• A) minimize inventory levels while maintaining an adequate supply to meet customer demands
• B) maximize inventory levels to prevent any possibility of stockouts
• C) determine order timing and order quantity
• D) estimate proper usage rates
• E) integrate JIT to reduce risks of obsolescence,theft,and damage

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Definitions:

Foreign Currency Fluctuations

Changes in the value of a country’s currency relative to the currency of another country; can influence consumer spending.

Global Financial Impact

The effect of financial events or trends around the world on economies, markets, and individual financial status.

Health and Wellness

An active process of becoming aware of and making choices toward a healthy and fulfilling life, encompassing physical, mental, and social well-being.

Communication Strategies

Plans of action designed to convey information effectively to a target audience.