Unit 22. Inventory Management

Injir Och
Flashcards by Injir Och, updated more than 1 year ago
3
0
0

Description

Flashcards on Unit 22. Inventory Management, created by Injir Och on 04/28/2016.

Resource summary

Question Answer
Stock (inventory) Materials and goods required to allow for the production and supply of products to the customer
Economic order quantity The optimum or least-cost quantity of stock to re-order taking into account delivery costs and stock-holding costs
Buffer stocks The minimum stocks that should be held to ensure that production could still take place should a delay in delivery occur or should production rates increase
Re-order quantity The number of units ordered each time
Lead time The normal time taken between ordering new stocks and their delivery
Just-in-time This stock-control method aims to avoid holding stocks by requiring supplies to arrive just as they are needed in production and completed products are produced to offer
Show full summary Hide full summary

Similar

Forms of Business Ownership Quiz
Noah Swanson
Unit 3 Business Studies
Lauren Thrower
Contract Law
sherhui94
AQA Business Unit 1
lauren_binney
What is Marketing?
Stephanie Natasha
Digital Marketing Strategy - The Essentials
Micheal Heffernan
Profit and Loss Accounts
Stuart Smith
Business Studies - AQA - GCSE - Business Studies Key Terms
Josh Anderson
Chapter 18 - Marketing mix(Product & Price)
irene floriane
Market Segementation
Noah Swanson
Business Marketing
s1500782