1
Q
Two types of Stock control-
JIT + JIC
A
JIT - Just in time - stock is delivered immediately when it is required
JIC - Just in case - keeping high amounts of stock on premises in case the store starts to run out
2
Q
JIT + JIC Advantages
A
JIT-
Does not require extra space on the premises
JIC-
Unlikely to run out of stock because of extra amounts
3
Q
JIT + JIC Disadvantages-
A
JIT-
Stock could run out if it arrives late
JIC-
Takes up a lot of space on premises which could be used for other projects
Business
flashcards
Decks in class (30)
# Cards
-
Finance1
-
Market Research4
-
1.1 Enterprise2
-
Branding3
-
1.5.4 The Economy And Business7
-
1.4 Making Business Effective4
-
2.1.1 Business Growth25
-
2.5 Motivation5
-
1.1.3 The Role Of Enterprise2
-
2.5 Recruitment7
-
2.5 Functional Areas4
-
2.5 Organisational Structures11
-
The Sales Process2
-
Quality6
-
Stock Control3
-
Gross And Net Profit3
-
Production Methods2
-
Average Rate Of Return3
-
Pricing Strategies3
-
Place2
-
Design Mix2
-
Product Life Cycle2
-
Multinational2
-
Globalisation6
-
Aims + Objectives2
-
Business Ownership10
-
Stakeholders7
-
1.3 Cash And Finance15
-
Aims, Objectives4
-
1.4 Options Of Business Start Up10
