Which of the following is a well-known technique for managing inventory?
A)progressive inventory management (PIM)
B)stock out avoidance (SOA)
C)materials requirement planning (MRP)
D)excess inventory movement (EIM)

Question

Which of the following is a well-known technique for managing inventory?
A)progressive inventory management (PIM)  
B)stock out avoidance (SOA)  
C)materials requirement planning (MRP)  
D)excess inventory movement (EIM)

Quizplus · Accepted Answer

Materials requirement planning (MRP) is a well-known technique for managing inventory. It involves determining what materials and how much of them are needed for production, based on customer demand and production schedules. MRP helps ensure that inventory levels are optimized and that production runs smoothly. Options A, B, and D are not known techniques for managing inventory.

Which of the Following Is a Well-Known Technique for Managing