Question

In the context of Internet-enabled supply chain management (SCM), which of the following SCM activities involves providing real-time stock information and replenishing stock efficiently?
a. Purchasing/procurement
b. Advertising scheduling
c. Customer service
d. Inventory management

Answer 1

Answer:

D) Inventory management

Explanation:

Inventory management involves all the procedures necessary for providing with sufficient materials, supplies and parts to the different production units. Efficient inventory management must balance the needs of having enough stock (materials, supplies, parts) and using resources efficiently, since every dollar held in stock is not being used to generate money on another department of the company. The most efficient type of inventory management is the just in time inventory system developed by Toyota.