Question

which of the following is not a selective inventory management technique?
a)Weighted method
b) LIFO
c)FIFO
d) All of the above​

Answer 1

Answer:

the correct option is D i.e., All of the above

Explanation:

Selective inventory management technique is a technique to control the inventory process. This management technique emphasizes control over inventory items based on a selective basis

Selective inventory management techniques are:

1. ABC analysis (Always Better Control)

2. VED analysis (Vital Essential Desirable)

3. HML analysis (High Medium low)

LIFO, FIFO, and Weighted method are the inventory valuation technique, not selective management techniques.

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Answer 2

The correct option is, (D) All of the above.

What is inventory management its objectives and techniques?

• The primary goal of inventory management is to ensure that all kinds of materials are accessible whenever the production department needs them, ensuring that production is not stopped or slowed down due to a lack of resources.

What are three inventory management techniques?

• The three most popular inventory management techniques are the push technique, the pull technique, and the just-in-time technique.
• These strategies offer businesses different pathways to meeting customer demand.

• Selective inventory management technique is a technique to control the inventory process.

This management technique emphasizes control over inventory items based on a selective basis.

• Selective inventory management techniques are:

1. ABC analysis (Always Better Control)

2. VED analysis (Vital Essential Desirable)

3. HML analysis (High Medium low)

LIFO, FIFO, and Weighted method are the inventory valuation technique, not selective management techniques.

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