Question

Q2. Which technique is used to finalise the inventory order:​

Answer 1

Answer:

Just-in-time (JIT) inventory management is a technique that arranges raw material orders from suppliers in direct connection with production schedules. JIT is a great way to reduce inventory costs. Companies receive inventory on an as-needed basis instead of ordering too much and risking dead stock.

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Answer 2

Answer:

broadly defined asthe activity of checking a shop's stock.It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business' inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction.Other facets of inventory control include forecasting future demand, supply chain management, production control, financial flexibility, purchasing data, loss prevention

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