quiz 5 .docx - The function is taking on increasing...

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The _________ function is taking on increasing importance in today's industrial economy. purchasi ng Since materials constitute the largest single percentage of their purchasing dollars, _____________ firms have turned to professionally operated purchasing departments to make sure they are getting full value for their outlays on materials. profit oriented __________ is the life blood of most businesses. Most firms store thousands of different items. Inventory The type of business a firm is in will usually determine how much of the firm's assets are invested in ___________. Inventories Management of inventories is a major interest of purchasing managers. In many industries, the investment in inventories comprises a substantial share of the firm's assets. If the productivity of the inventory asset can be enhanced, the improvement will go directly to the bottom line. True In order to manage the various types of inventory, attributes of the items first must be analyzed in terms of all the following with one exception. Which one is the exception? Independent demand is related to the demand for other items. False In the area of inventory management, the purchasing professional should make explicit decisions regarding which of the following?
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