Introduction to Inventory – End of Section Assessment

There are many reasons why an organisation would hold inventory. Select the correct valid reasons why an organisation would hold inventory:

Match the correct definition to the following two types of demand:

The beginning of any inventory control process is the goods receipt from a supplier. Put the following Goods Receipt process steps into the correct order of 1-5.

Select the correct missing words from the following definition of Lead Time:

Inventory is located by using one of three basic systems.  Select the correct three systems from the following list:

There are a number of alternative methods that can facilitate supply and demand, without needing to hold inventory. Select the correct alternatives from the following list:

When preparing a MRP schedule, there are three distinct steps.  Select the correct three steps from the following list: