Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which department is considered the genuine soul of a firm's growth and success?
Which department is considered the genuine soul of a firm's growth and success?
- Finance department
- Marketing department
- Human resources department
- Inventory management department (correct)
What is the main responsibility of inventory management?
What is the main responsibility of inventory management?
- Managing the performance of a company
- Managing the units in a firm (correct)
- Managing the inward flow of goods
- Managing the outward flow of goods
What is the responsibility of an inventory manager in relation to time management?
What is the responsibility of an inventory manager in relation to time management?
- Monitoring the price of a product after taxes
- Ensuring there is no scarcity in inventory
- Managing the time taken by a unit for processing and reaching inventory (correct)
- Checking the value of raw materials and their cost in making finished products
What does inventory management keep a check on in relation to price?
What does inventory management keep a check on in relation to price?
Signup and view all the answers
What is the significance of inventory management in relation to raw materials?
What is the significance of inventory management in relation to raw materials?
Signup and view all the answers
