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Advantages of Inventory Control Systems

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question 1 of 3

_____ are the procedures and process put in place to efficiently and effectively manage an organization's inventory.

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1. Inventory control systems can help a company prevent having too much inventory in stock, which can decrease _____, or the organization's readily available assets that can become cash quickly, to pay off debt.

2. Which of the following BEST describes how inventory control systems can help a company provide good customer service.

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About This Quiz & Worksheet

If you would like to assess your knowledge of the pros of inventory control systems, use the quiz/worksheet combo. How these systems work and their benefits are among the topics you'll see on the quiz.

Quiz & Worksheet Goals

The goal of these materials is to check your comprehension of:

  • How inventory control systems can reduce the cost of labor
  • What these systems prevent products from being
  • The procedures and process put in place to effectively manage inventory
  • Characteristics of inventory control systems

Skills Practiced

  • Information recall - access the knowledge you have gained about how these systems prevent companies from having too much inventory
  • Interpreting information - verify that you can read information about the pros of inventory control systems and interpret them correctly
  • Making connections - use understanding of the concept of inventory control to recognize its importance for companies

Additional Learning

Go through the lesson called Advantages of Inventory Control Systems to review more topics, including:

  • The meaning of cash flow
  • What on-hand means
  • Why companies need to control their inventory
  • Examples of labor costs associated with managing inventory
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