________ systems are used to keep inventory levels more or less constant.
A) Conversion
B) Reordering
C) Inventory
D) Statistical process

Question

Quizplus · Accepted Answer

Reordering systems, such as Economic Order Quantity (EOQ) and Just-In-Time (JIT), are designed to ensure that inventory is replenished at the right time with the right quantity to maintain a desired level of stock. They use forecasting, lead time analysis, and demand analysis to determine when and how much inventory should be ordered. This helps to avoid stockouts and excess inventory, and optimize the use of storage space and capital. Conversion systems are related to production processes, inventory systems manage stock levels, and statistical process control is a method to monitor and improve quality.

________ Systems Are Used to Keep Inventory Levels More or Less