Question

A manufacturer might delay the final stages of production for a product with high variety until orders are actually received in order to better match supply with demand without resorting to excessive inventories. This approach is known as_________.

Answer 1

Answer:

inventory management                              

Explanation:

In simple words, Stock management refers to the oversight of multi-capitalized cash, or resource, and pieces of inventory. Inventory management, as just a aspect of product development, manages the movement of products from suppliers to stores and among those sites to points of sales.

Inventory managing is indeed a complicated process, especially for larger organisations, however the fundamentals are in essence the same irrespective or form of the organisation.