Problem: What are the functions of an inventory and their important development?
1. It describes and provides examples of the four types of inventory discussed in this module: raw material, in process, MRO, and finished goods.
2. What is ABC analysis of an inventory?
3. It provides two (2) examples of how good control of an inventory can be maintained.
4. What are the three main costs of an inventory?
5. Discusses how an operations manager can keep costs related to managing an inventory low.