Posted: May 31st, 2022

Select three of the seven inventory techniques listed and explore why a business would implement each one. Be sure to list specific reasons for each. Techniques of inventory management include: • Economic order quantity. • Just in time inventories. • Optimum stocking level. • Periodic inventory. • Perpetual inventory.

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Please respond to the following:
1. Select three of the seven inventory techniques listed and explore why a business would implement each one. Be sure to list specific reasons for each.
Techniques of inventory management include:
• Economic order quantity.
• Just in time inventories.
• Optimum stocking level.
• Periodic inventory.
• Perpetual inventory.
• Barcoding.
• Point–of–sale systems.
2. Identify and explain three risks to small businesses that are caused by personnel issues. How would you manage each risk?
3. As a new small business owner, what can you do to make sure you hire the right person for the job? What are some ways to manage and foster productivity among virtual employees? Lastly, what is one benefit that motivated you as an employee that you would offer your employees to motivate them?

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