Adrian is worried about his factory's consecutive decrease in profits due to the goods that are damaged in the storehouse. This has increased his cost of factors of production. In an attempt to tackle the problem, he has set up a system of measuring the needs of his clients and manufacturing the required number of products. Which of the following approaches has Adrian adopted?
A) mathematical forecasting
B) queuing theory
C) linear programming
D) inventory analysis
E) network models

Question

Quizplus · Accepted Answer

Adrian has adopted inventory analysis, which involves managing and controlling stock levels to meet customer demand while minimizing the costs associated with holding inventory, such as goods being damaged in the storehouse. This approach helps in producing the required number of products to meet client needs efficiently.

Adrian Is Worried About His Factory's Consecutive Decrease in Profits