The purpose of inventory management is to determine
A) timing and cost of orders.
B) quantity and cost of orders.
C) timing and quantity of orders.
D) ordering and carrying costs.

Question

Quizplus · Accepted Answer

The purpose of inventory management is to balance the timing and quantity of orders in order to meet demand while minimizing costs. The timing of orders helps to ensure that stock levels are sufficient to meet demand, while the quantity of orders is important for accurately predicting demand and minimizing carrying costs. The cost of orders is also a consideration, but not the primary focus of inventory management.

The Purpose of Inventory Management Is to Determine