Organisations use a variety of systems to help manage and control inventory. Which option is the 80/20 rule?

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The selection of an appropriate system for low-ARV items is concerned with keeping the management and control costs low while ensuring that stockouts are avoided.

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The task of inventory control is an integral element of material schedules that form part of the operations control system.

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When the inventory drops to a predetermined level (or reorder point), a fixed quantity is placed on order.

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Companies must assess their investment in inventory in terms of its (monetary) value and return (what advantages and functions the inventory provides).

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Organisations use a variety of systems to help manage and control inventory. Whi...

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