The Inventory Management Quiz
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Questions and Answers

Which department is considered the genuine soul of a firm's growth and success?

  • Finance
  • Marketing
  • Human Resources
  • Inventory Management (correct)

What is one of the functions of inventory management?

  • Managing the time taken by a unit for processing and reaching inventory (correct)
  • Developing financial forecasts
  • Determining advertising strategies
  • Managing employee schedules

What does inventory management keep a check on?

  • Increasing the price of a product after adding all taxes (correct)
  • Customer satisfaction
  • Competitor's pricing strategy
  • Employee performance

Why is it important for inventory to be in a moderate amount?

<p>To prevent inventory shortages (A)</p> Signup and view all the answers

What is the role of inventory management in the supply chain?

<p>Ensuring the availability of raw materials (B)</p> Signup and view all the answers

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