Marketing Essentials Chapter 24

Computer-based inventory systems are faster and more accurate than manual systems.

• True

• False

In a retail business, some staple items rarely have price changes. These items can be marked by the preretailing marking method.

• True

• False

A visual inspection system monitors inventory levels, indicates sales rates, and is easy to use.

• True

• False

UPC codes replace the need for marking merchandise with an electric or manual pricing machine.

• True

• False

A shipment containing arrived at a store later than expected and without an invoice. The salespeople needed to have the merchandise on the floor quickly in anticipation of a big weekend sale. What method should be used to ensure quick and accurate merchandise checking?

• Spot

• Merchandise

• Blind

• Quality

What is the difference between recorded sales and inventory based on a physical count?

• Stock Turnover

• Stock Shortage

• Unit Control

• Stock Overage

What checking method is susceptible to errors if receivers do not physically count the total number of items in a shipment?

• Merchandise

• Quality

• Blind

• Direct

A stationery store, such as Office Depot, might include writing paper, envelopes, and pens on its ____________________ stock list.

• Staple

• Never out

• Basic

• Inentory

The steps in the stock-handling process are ____________________ goods, checking them, and marking them, and sometimes delivering them.

• Ordering

• Receiving

• Inventory

• Stock

Inventory ____________________ is the process of buying and storing merchandise while controlling the costs related to ordering, shipping, handling, and storage.

• Management

• Keeping

• Stock

• Control