__________ is the process of managing raw materials,work-in-process,finished goods,and in-transit goods.
A) Product management
B) Inventory control
C) Work-in-process management
D) Product control

Question

Quizplus · Accepted Answer

Inventory control is the process of managing raw materials, work-in-process, finished goods, and in-transit goods. This includes tracking inventory levels, forecasting demand, and maintaining adequate stock levels to meet customer needs while minimizing the cost of holding inventory. Product management and product control focus more on the development and marketing of products, while work-in-process management is a subset of inventory control that specifically deals with managing the production process.

__________ Is the Process of Managing Raw Materials,work-In-Process,finished Goods,and In-Transit