OPERATIONS MANAGEMENT FUNDAMENTALS - Basic Tools and Concepts in Operations Management - Inventory Costs and Benefits
5 important questions on OPERATIONS MANAGEMENT FUNDAMENTALS - Basic Tools and Concepts in Operations Management - Inventory Costs and Benefits
True or False. For a company providing a service (e.g. Hospital, hair salon), you are serving no one unless you have inventory, i.e. Customers.
What is the type of inventory that serves as a buffer between process steps? It enables each process step to operate more independently.
This type of inventory is also called "lot-size inventory."
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True or False. If it has an expiration date, it is a cycle or lot-size inventory.
It is an inventory in the middle of a process or in transit i.e. Burger on a grill, a package on its way to a retailer, etc.
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