Description should include examples of inventory control methods, such as just-in-time (JIT), dollar and unit control, and real-time (e.g., point-of-sale) inventory systems. Description should consider the following criteria:
- Cost effectiveness
- Effect on customer service
- Appropriateness to product-service mix
- International holidays and events
Process/Skill Questions:
- Why is it important to have an accurate and reliable inventory control system?
- What image does a store's inventory project to customers?
- How do JIT inventory systems affect customer service?
- What are the risks involved in JIT inventory systems? What are the benefits?
- What is shrinkage? How can it be avoided?
- What is the effect of inventory control on profitability?