1) A complete list of items/assets such as property, goods in stock, or any products that are going to be sold or transform into other benefits. a) Procurement b) Inventory c) Raw materials d) Stock Keeping Unit 2) Time since the order is created until the product is received: a) Stockout b) Anticipation stock c) Procurement d) lead time 3) High amount of inventory is a bad idea because it may cause: a) the acquisition of goods and services b) the risk of losing out a potential sale c) obsolescence and spoilage costs. 4) What are the 3 main reasons to keep an inventory? a) Time, money and risk b) buffer, stockout and lead time c) Time, uncertainty and economies of scale 5) What are the four elements in the inventory? a) Time, money, risk and raw materials b) warehousing, procurement, manufacturers and distributors c) Raw materials, work in progress, finished goods and consumers d) Raw materials, work in progress, finished goods and Unfinished goods 6) To specify the shape and percentage of stocked goods a) Inventory b) SKU c) Inventory management 7) Rules with respect to the point in time when a replenishment of the inventory should be initiated a) Inventory management b) Inventory policies c) The inventory

The inventory ESP (Review)

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