Mike is a sales representative for Fastenal and calls on manufacturer accounts in his territory.Most of the manufacturers utilize a just-in-time inventory system whereby they rely on suppliers like Fastenal to maintain appropriate levels of stock so they can minimize their inventory carrying costs and strive to balance the inventory in order to ensure they have the right levels of inventory for their production.Mike provides value-added services to assist these customers in identifying their inventory needs and tracks the inventory levels to ensure the customer's goals are met.This value-added service is known as a(n):
A)vendor-managed inventory
B)key account selling
C)quick-response inventory management
D)customer relationship management

Question

Mike is a sales representative for Fastenal and ​calls on manufacturer accounts in his territory.Most of the manufacturers utilize a just-in-time inventory system whereby they rely on suppliers like Fastenal to maintain appropriate levels of stock so they can minimize their inventory carrying costs and strive to balance the inventory in order to ensure they have the right levels of inventory for their production.Mike provides value-added services to assist these customers in identifying their inventory needs and tracks the inventory levels to ensure the customer's goals are met.This value-added service is known as a(n):
A)​vendor-managed inventory
B)​key account selling
C)​quick-response inventory management
D)​customer relationship management

Quizplus · Accepted Answer

The value-added service described in the scenario is vendor-managed inventory, which involves the supplier (Fastenal) managing the inventory levels for the customer (manufacturer) to ensure they have the appropriate amount of stock on hand.

Mike Is a Sales Representative for Fastenal and ​Calls on Manufacturer

Mike Is a Sales Representative for Fastenal and Calls on Manufacturer