Selected Learning Objective

Selected Learning Objectives: These materials should enable you to: – Appreciate that modern practice discourages holding large quantities of inventory and encourages only having amounts on-hand required for current needs – Apply basic supply chain management concepts -Grasp the significance of controlling actual, on-hand inventory as both a physical object (shelf count) and as an intangible object (record count and monetary worth) -Understand the fundamental differences between finished goods inventories in the retail/distribution sectors and raw materials and work-in-process inventories found in the manufacturing environment -Apply basic formulas to calculate inventory quantities -Calculate profit margins -Recognize and analyze dysfunctions within your own operation -Employ basic problem-solving techniques toward issue resolution -Control the physical location of inventory in a more efficient manner

Testing Format

Multiple Choice