Managing and storing stock effectively is important for a business in order to maintain production and sales.
Which of the following is a type of stock?
On a bar gate stock graph, what is a buffer inventory?
The lowest amount of items to be stored on site
The amount of stock ordered to restore inventory levels to their maximum point
The amount of inventory held in case deliveries are held up
On a bar gate stock graph what is the reorder level?
The level of inventory at which new stock is ordered
The minimum inventory level
Which of the following is a drawback of just-in-time stock control?
Warehouse storage costs
Stock going out of date and fashion
Frequent delivery costs
What is an advantage of centralised storage?
Decreased wage costs
Reduces duplication of stock