Inventory Management Quiz
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Questions and Answers

Which of the following is NOT a recommended practice for inventory management?

  • Dumping unusable items down a drain (correct)
  • Using up old products before switching to new ones
  • Returning unopened inventory
  • Keeping chemical products in a designated and tidy area

    • What is the purpose of inventory management?

  • To keep substitutions to a minimum
  • To order raw materials
  • To ensure customers never run out of stock (correct)
  • To remove empty drums

    • What should be done with opened inventory?

  • It should be returned to the supplier
  • It should be used up entirely before returning to the original product or size (correct)
  • It should be kept in a designated and tidy area
  • It should be thrown away immediately

    • Which tool is NOT necessary for inventory preparation?

    <p>Calculator</p> Signup and view all the answers

    What is the purpose of FIFO in inventory preservation?

    <p>To rotate stock</p> Signup and view all the answers

    What is the importance of consistency in inventory management?

    <p>To ensure better service and less chance for errors</p> Signup and view all the answers

    Which tool is recommended for counting inventory in Bullseye® containers?

    <p>Measuring label</p> Signup and view all the answers

    What should you do if you are unable to fill out the online inventory report?

    <p>Take written notes and report the issue to your manager immediately</p> Signup and view all the answers

    What is the easiest way to count reserve inventory?

    <p>Count the full containers</p> Signup and view all the answers

    Which of the following is NOT a part of the inventory ecosystem?

    <p>Employee salaries</p> Signup and view all the answers

    What does the inventory ecosystem encompass?

    <p>Everything related to inventory management</p> Signup and view all the answers

    Why is it important to manage the inventory ecosystem efficiently?

    <p>To reduce costs and increase profits</p> Signup and view all the answers

    What is the first step in the inventory ecosystem?

    <p>Ordering raw materials</p> Signup and view all the answers

    Which of the following is NOT a part of the inventory ecosystem?

    <p>Creating marketing campaigns</p> Signup and view all the answers

    What is the impact of inefficient inventory management on a business?

    <p>Decreased productivity</p> Signup and view all the answers

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