_____ of inventory refers to how quickly raw material and work-in-process inventory transform into finished goods that the customer accepts.
A)Volume
B)Velocity
C)Value
D)Vigor
E)None of these answers.

Question

Quizplus · Accepted Answer

Velocity is the measure of how quickly raw materials and work-in-process inventory are transformed into finished goods. This includes the time it takes for production processes to be completed, quality control to be performed, and products to be shipped out to customers. Increasing velocity can help a company reduce inventory carrying costs and improve customer satisfaction by delivering products faster.

_____ of Inventory Refers to How Quickly Raw Material and Work-In-Process