What is the purpose of ABC Analysis in inventory management?
Ch. 3 Inventory Management 20252 Flashcard

Flashcard
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Business
•
University
•
Hard
KAMARULZAMAN ISHAK
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25 questions
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1.
FLASHCARD QUESTION
Front
Back
To categorize inventory based on importance
2.
FLASHCARD QUESTION
Front
Which of the following is NOT a part of inventory management?
- Ordering inventory
- Storing inventory
- Marketing inventory
- Selling inventory
Back
Marketing inventory
3.
FLASHCARD QUESTION
Front
Benefit of a large inventory?
Back
Reduced ordering and setup costs
4.
FLASHCARD QUESTION
Front
Which cost is associated with maintaining a small inventory?
Back
Lower storage costs
5.
FLASHCARD QUESTION
Front
What is one of the main purposes of inventory management?
Back
To keep the right amount of stock
6.
FLASHCARD QUESTION
Front
How does inventory management help in achieving economies of scale?
Back
By allowing bulk purchases at a discount
7.
FLASHCARD QUESTION
Front
How do companies use inventory to hedge against price increases?
Back
By buying more before prices rise
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