Quiz 2 - MGT5063/Quiz 2 name 9 Oct 2016 1(5 pts You are...

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MGT5063/Quiz 2 name 9 Oct 2016 1. (5 pts) You are inventory manager and have to consider uncertainty variables when pursuing new inventory control processes. List at least five key variables that you would focus on in order to gain insight regarding sources of uncertainty. Weather Promotion Social Media Price Road construction 2. (5 pts) In a paragraph (4-5 sentences) explain the difference between continuous review and periodic review including an example on how they influence inventory ordering practices. Could be the way of tracking inventory is an important part of business operations for any companies that sells tangible goods. Continuous reviews are two common methods used to track inventory for accounting and ordering purposes. Rules by providing for each type of inventory different way to seem the advantages and disadvantages. 3. (3 pts) Briefly explain inventory position and what role it play in controlling inventory. Inventory control they are focuses on cutting the number of slow-selling products a company’s purchases. This will saves businesses time and money because they don’t
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