A retail store manager is faced with the challenge of reducing inventory costs without negatively impacting sales. She decides to use business statistics to analyze customer buying patterns and identify slow-moving inventory items. The analysis shows that certain items have low sales and high inventory costs, and recommends reducing the order quantities for those items. How can the retail store manager use statistical analysis to determine the optimal reorder point for inventory items?

Answer rating: 100% (QA)

The retail store manager can use statistical analysis to determine the optimal reorder point for inventory items by employing techniques such as the E... View the full answer