Understanding Stock Control Basics

Understanding Stock Control Basics

Assessment

Flashcard

Education

Vocational training

Practice Problem

Hard

Created by

Janet Wilson

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

*Front:* Stock Control

Back

of inventory levels to meet customer demand

2.

FLASHCARD QUESTION

Front

*Front:* Inventory

Back

and materials a business holds for sale

3.

FLASHCARD QUESTION

Front

*Front:* Just-In-Time (JIT)

Back

strategy to increase efficiency by receiving goods only as needed

4.

FLASHCARD QUESTION

Front

*Front:* Economic Order Quantity (EOQ)

Back

order quantity to minimise total inventory costs

5.

FLASHCARD QUESTION

Front

*Front:* Safety Stock

Back

inventory to prevent stockouts

6.

FLASHCARD QUESTION

Front

*Front:* Lead Time

Back

between ordering and receiving goods

7.

FLASHCARD QUESTION

Front

*Front:* True or False: Overstocking can lead to increased storage costs.

Back

True

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