What does category 'A' in the ABC analysis means? It serves as your most valuable product that contributes the most to overall profit It serves as small transaction that are vital for overall profit but does not matter much 

Question 2 What is involved in choosing a Supplier? The suppliers' years of experience Order managing process

Question 3 What is 'Perpetual Inventory Management'? It is simply counting inventory as soon as they arrive It is putting the inventory and counting them later 

Question 4 What it Drop Shipping? It is when a shop makes a sale, and does not have the item in their inventory but purchase it from a third party and ship it to the consumer It is when a store makes a sale, and picks up the item from their inventory and ship it to the consumer

Question 5 What is Outsourcing? By giving an outside party the responsibility to make goods for your company By producing the goods within your company 

Question 6 What is the meaning of FIFO in inventory management? First In - First Order First In - First Out Question