Inventory is essential to every business and if you don't understand the various types of inventory methods to determine inventory values and controls your business will fail fast! Here, we challenge you to test your inventory methods IQ!
Why Inventory Control is Key in Any Business
Controlling and keeping track of inventory is a must-do for every business. Without controls, you don't know how much inventory you have on hand or how to determine how many sales were lost due to not enough inventory in stock.
There are various inventory methods utilized and not each method works for every type of business. Some businesses may require set inventory amounts be in stock at all times, where other business may only need to order inventory based on customer demand.
Here at Bright Hub, we know learning all you can about inventory is a key element in running and managing your business!
Think you're an expert on inventory controls and the methods used? If so, we challenge you to test yourself here! This 15 quick quiz is fun, informative and beyond that, if you don't score as high as you wanted to, we offer some great reads by our experts you can review and then take the test again!
Ready to test your inventory IQ?