
Inventory Management Quiz

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary goal of inventory management?
To increase the number of products in storage
To balance supply and demand effectively
To reduce the number of employees
To eliminate the need for warehousing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is maintaining accurate inventory records important?
To reduce the number of suppliers
To increase the number of employees
To avoid errors and manage reordering effectively
To ensure products are always on sale
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of inventory includes items that are in the process of being manufactured?
Finished goods
Raw materials
Work in progress
Safety stock
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of safety stock in inventory management?
To increase the number of products sold
To act as a buffer against unexpected demand
To reduce the need for warehousing
To eliminate the need for demand forecasting
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step in the inventory management process?
Inventory auditing
Inventory tracking
Demand forecasting
Reordering
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of inventory auditing?
To ensure actual stock matches records
To increase the number of products in storage
To eliminate the need for demand forecasting
To reduce the number of employees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which inventory management technique involves ordering products only when needed?
ABC analysis
Just in Time (JIT)
Economic Order Quantity (EOQ)
First In First Out (FIFO)
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