Perpetual Inventory System (Mr. Mola - BIBT)

What is the primary advantage of a perpetual inventory system?

• • Reducing employee turnover

• • Real-time inventory tracking

• • Lowering employee salaries

• • Enhancing customer service

How does a perpetual inventory system help minimize stockouts and overstocking?

• • By hiring more staff

• • By increasing product prices

• • By reducing the number of products offered

• • Through real-time visibility of inventory levels

Which technology is commonly used in a perpetual inventory system to improve inventory accuracy?

• • Manual ledger books

• • Fax machines

• • Barcode scanners and POS systems

• • Physical stock checks only

How does a perpetual inventory system streamline the reordering and restocking process?

• • By generating automatic reorder notifications

• • By delaying order placements

• • By increasing the number of suppliers

• • By reducing the variety of products

What type of data does a perpetual inventory system provide for analysis and reporting?

• • Customer personal information

• • Office building maintenance schedules

• • Employee performance data

• • Sales trends and product performance

What is a potential disadvantage related to the initial setup of a perpetual inventory system?

• • Increased customer complaints

• • Upfront investment in technology infrastructure

• • Decreased product quality

• • Higher employee turnover

What is a potential ongoing cost associated with a perpetual inventory system?

• • Cost of employee training

• • Cost of technology maintenance and support

• • Cost of product returns

• • Cost of marketing campaigns

What can be a challenge for pharmacies relying heavily on perpetual inventory systems?

• • Dependency on technology, including risks like power outages and system crashes

• • Increased inventory accuracy

• • Improved customer satisfaction

• • Enhanced data analysis capabilities

Why might staff training be necessary for implementing a perpetual inventory system?

• • To learn new sales techniques

• • To improve customer interaction skills

• • To ensure proper usage and integration with existing systems

• • To manage financial accounts

What is a major benefit of having accurate, real-time inventory tracking

in a perpetual inventory system?

• It reduces the need for inventory audits

• It lowers the cost of technology maintenance

• It increases the number of products in stock

• It minimizes human errors in inventory tracking