Inventory Management Concepts Quiz

To ignore inventory investment and solely focus on customer service

To balance inventory investment and customer service (correct)

To maximize inventory investment at all costs

To minimize customer service and focus on inventory investment

To establish policies that focus on critical parts based on annual dollar volume (correct)

To ignore inventory classification based on annual dollar volume

To prioritize inventory based on the number of units in stock

To minimize the handling of trivial inventory items

Completed product awaiting shipment (correct)

Necessary to keep machinery and processes productive

Undergone some change but not completed

Purchased but not processed

<p>Undergone some change but not completed</p> Signup and view all the answers

<p>To keep machinery and processes productive</p> Signup and view all the answers