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Inventory management

Authored by Ewa Janicka

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University

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Inventory management
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does SKU mean in retail management?

Stock Keeping Unit

Standard Knowledge Unit

Store Maintenance Utility

Inventory Knowledge Update

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a planogram in retail?

Tracking inventory levels

Determining shelf space allocation and location

Managing delivery schedules

Calculating sales forecasts

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does OSA mean in retail performance metrics?

On-site Availability

On Shelf Availability

Out of Stock Analysis

Operational Sales Assessment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of safety stock in inventory management?

Increase storage costs

Protection against demand uncertainty and lead time

Maximization of order quantities

Reduction of replenishment cycles

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does EOQ mean in inventory management?

Economic Order Quantity

Effective Quality of Order

Significant Amount of Order

Estimated Quantity of Order

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which inventory management method focuses on minimizing inventory by receiving goods only as needed?

MRP

JIT (Just-In-Time)

VMI

ABC Analysis

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key benefit does Vendor Managed Inventory (VMI) provide?

Increases the bullwhip effect

Reduces product availability

Improves product availability and partnerships

Increases storage costs

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