Tell me what is inventory control?
Submitted by: Ali Hassan SiddiquiInventory control is the process of reducing inventory costs while remaining responsive to customer demands. By this definition a store would want to lower its acquisition, carrying ordering and stock-out costs to their lowest possible levels. However a store would need to have enough inventories to meet any needs of its customers.
Submitted by: Ali Hassan Siddiqui
Submitted by: Ali Hassan Siddiqui
Read Online Inventory planning and control Job Interview Questions And Answers
Top Inventory planning and control Questions
| ☺ | How would you respond to the criticism that eoq models tend to provide misleading results because values of d, s and h are at the best educated guesses? |
| ☺ | The EOQ formula has been criticized in a number of areas. Which of the following is not an area of common criticism? |
| ☺ | Buffer inventory is required as? |
| ☺ | Order-point or re-order-level inventory control is used for which of the following? |
| ☺ | Under the ABC system of inventory priorities a Class A item is? |
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