10.1.1. Inventory management

Try these first

1. 1.

   Define inventory management.

   Hint

   Think about what businesses do with supplies.

2. 2.

   What does JIT stand for?

   Hint

   It's an inventory strategy.

3. 3.

   What does inventory management help reduce?

   • Inventory Levels
   • Waste Generation
   • Production Time

   Hint

   Think about the outcome of controlling supplies.

4. 4.

   True or False: JIT means ordering materials ahead of time.

   • True
   • False

   Hint

   Focus on the timing aspect of JIT.

5. 5.

   Evaluate how implementing a sustainable inventory management system can positively impact a company's bottom line and environmental footprint.

   Hint

   Consider both financial and environmental benefits.

6. 6.

   Design an inventory tracking strategy for a small electronics manufacturing company and explain how it would reduce e-waste.

   Hint

   Think about tools that help keep track of materials in real-time.