To reduce inventory management costs, many companies use a system called, which

Question

To reduce inventory management costs, many companies use a system called, which involves carrying only small inventories of parts or merchandise, often only enough for a few days of operation. just in time (JIT) supply chain management value chain management logistics management enterprise resource planning According to the text of demand function is caused by random variation. What is random variation? errors in inventory management errors usually caught by using exponential smoothing demand that cannot normally be anticipated none of the above a and b only The difference between distribution centers and storage warehouses is that distribution centers are designed to. have greater capacity store goods for longer periods perform others functions, such as breaking bulk primarily be owned by the manufacturer be automated The main purpose of demand management is to estimate and manage and use this information to make operating decisions. channel orders vendors and suppliers customer demand SO&P; processes ERP processes Which of the following is a method that can be used to compare the accuracy of forecasts. mean absolute deviation exponential smoothing for trends logistic regression analysis all the above a and c only Order lead time is defined as. average sales per day extra inventory kept on hand to protect against stock outs the stock level at which an order must be placed the time period from when an order is placed until goods are ready for use/sale all the above

Explanation / Answer

Solution of question (1) : Its answer is "JUST IN TIME (JIT) because this is the system in which companies involve only small invertories of parts so that to reduce inventory and warehousing cost to get maximum profit.

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