Inventory Management Quiz1

Inventory management all comes down to balance - having the ​right amount​ of stock, in the ​right place​, at the ​right time​. And this guide will help you achieve just that.

• True

• False

INVENTORY MANAGEMENT is the process of ordering, handling, storing, and using a company’s capitalized assets only.

• True

• False

What type of retail inventory management is where a company sells over the internet via an ecommerce website or marketplace?

• Online

• Offline

• Multichannel

• Omnichannel

Choose 3 focuses mainly on inventory management from a retail perspective within this guide.

• Offline

• Distributioin Management

• Multichannel

• Online

• Channel of Distribution

Which type of retail inventory management is where a company sells in multiple different places, usually a combination of online websites and marketplaces?

• Online

• Offline

• Multichannel

• Omnichannel

What key aspect of inventory is focused on how much stock is needed to satisfy demand over an upcoming time period?

• Storage

• Analysis

• Purchasing

• Forecasting

What key aspect of inventory is focused on how much of each inventory item can be suitably housed and where to send it?

• Storage

• Forecasting

• Analysis

• Techniques

What key aspect of inventory is focused on when​ and ​how​ to create purchase orders to re-order new stock?

• Storage

• Systems and Tools

• Accounting

• Tracking

What key aspect of inventory is focused on visibility on where exactly your inventory is as well as additions (purchases) and subtractions (sales), to give as close to a live stock figure as possible.

• Tracking

• Accounting

• Analysis

• Systems and Tools

What key aspect of inventory is focused on quickly and efficiently book-in, put away, pick, pack and ship inventory as and when needed at your various locations?

• Techniques

• Tracking

• Systems and Tools

• Purchasing