What can be defined as a useful idle resource which has economic value eg; raw materials, spareparts, finished items, etc?
A. Inventory Control
B. Inventory
C. Inventory Planning
D. None of the above
Answer: Option B
Solution(By Examveda Team)
Inventory can be defined as a useful idle resource which has economic value eg; raw materials, spareparts, finished items, etc. Inventory is an idle stock of physical goods that contain economic value, and are held in various forms by an organization in its custody awaiting packing, processing, transformation, use or sale in a future point of time.Related Questions on Operations Research
A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
Join The Discussion