Which of the following has to do with inventory management?
A)economic ordering quantity
B)in the nick of time
C)few in, lots out
D)red-line

Question

Quizplus · Accepted Answer

Economic ordering quantity (EOQ) is a mathematical formula used in inventory management to determine the optimal order quantity that minimizes the total cost of inventory management, including ordering costs and holding costs.

Answer: B 
 Just-in-time (JIT) or in the nick of time is a philosophy and strategy for inventory management that emphasizes reducing waste by receiving goods only when they are needed in the production process, instead of stockpiling large quantities of inventory.

Answer: C 
 Few in, lots out refers to a strategy for inventory management where businesses keep a small amount of inventory on hand but order large quantities from suppliers when needed, in order to save on costs associated with holding and managing large inventories.

Answer: D 
 Red-line is not related to inventory management. It could refer to various things, such as a maximum speed limit or a threshold that, when crossed, triggers action or warning.

Which of the Following Has to Do with Inventory Management