Inventory

For each description presented in the following table, identify the corresponding type of inventory.

Description

Inventory Type

Fired ceramic tiles waiting for delivery to contractors are examples of this kind of

inventory.

In an automobile plant, this inventory includes the engines, wheel and tire assemblies,

and dashboards waiting to be installed in new cars.

Read the following brief case study and answer the questions that follow it$.$

CASE STUDY

Brad Leong, Danny Fukuba, and Sam Gordon are the inventors of the Oona, a stand that allows people to position their smartphones in almost

endless configurations.

The Oona is made of aircraft$-$grade aluminum, with suction cups of low shore durometer silicone. Designed to utilize all the functions of a

smartphone, the Oona is easily moved from place to place, attaching to surfaces from car windshields to tripods.

After designing the product, the three inventors raised money for their first production run on Kickstarter, an online funding platform for

inventors. When pledges closed, the company had raised $$131,220$ from $3,915$ backers$-$the eighth highest amount in Kickstarter's history. Then

the hard work of manufacturing large volumes of the Oona began.

If the manufacturers chosen by Brad, Danny, and Sam use an innovative software system to determine the production schedule, production batch

sizes, and inventories needed to complete future orders, they are likely using:

An economic order quantity system

An inventory turnover system

A materials requirement planning system

A just$-$in$-$time inventory system