CLT Chap 5

Which type of inventory control methods says that the oldest item received is the first item to be sold or delivered?

• ABC
• FIFO
• LIFO
• JIT

Reverse inventory refers to

• automated flow
• use of directional devices
• warehouse labeling systems
• returned merchandise

Which of the following ordering systems is a time-based system where items are ordered based on anticipated usage according to a predetermined schedule?

• Cyclical
• Fixed-order quantity system
• Material requirements planning system

Item inventory management deals with total inventory management.

• true
• false

One goal of JIT is minimize inventory.

• true
• false