Which one of the following statements is NOT correct?
A. FIFO issue system cannot work if the items are stored randomly in a large warehouse
B. The JIT concept of inventory management can prevent accumulation of excess inventory
C. ZIN (Zero-inventory) system of inventory management does not imply literally ‘nil’ inventory
D. The term ‘EOQ’ stands for efficient order quantity
Answer:D
Which one of the following statements is NOT correct?
A. FIFO issue system cannot work if the items are stored randomly in a large warehouse B. The JIT concept of inventory management can prevent accumulation of excess inventory C. ZIN (Zero-inventory) system of inventory management does not imply literally ‘nil’ inventory D. The term ‘EOQ’ stands for efficient order quantity