Complete the following using the terms listed.
-______ is the function requiring production and operations managers to balance the need to keep stock on hand to meet demand against the costs of carrying inventory.
A)process layout
B)LEED certification
C)Gantt chart
D)PERT chart
E)Inventory control
F)ISO
G)critical path
H)Computer-integrated manufacturing
I)Utility
J)perpetual inventory
K)Materials requirement planning
L)standardization
M)Routing
N)assembly line
O)robot
P)just-in-time
Q)benchmarking
R)synthetic production system
S)make,buy,or lease decision

Question

Quizplus · Accepted Answer

Inventory control is the function that involves managing the inventory levels to balance the need for stock on hand with the costs of carrying inventory. This function is critical in ensuring that the company does not run out of stock while at the same time avoiding excess inventory, which can result in higher storage costs and the risk of obsolescence.

Complete the Following Using the Terms Listed