Inventory Control Principles Quiz

Focusing solely on verifying a business's inventory

Maximizing profit from the least amount of inventory investment without affecting customer satisfaction (correct)

Minimizing profit to ensure customer satisfaction

Maintaining a large inventory to cater to all possible demands

Keep inventories in a desired state while adequately supplying customers (correct)

Ignore the state of inventories and focus on customer satisfaction

Maintain unclear records on a periodic basis

Maximize inventory investment without considering customer satisfaction

Maximizing inventory investment without concern for profit

Focusing solely on loss prevention

Forecasting future demand and production control (correct)

Ignoring customer satisfaction and supply chain management

<p>The activity of checking a shop's stock</p> Signup and view all the answers

<p>Their current state concerning assets, account balances, and financial reports</p> Signup and view all the answers