127) Although only about 15 percent of shoplifters are professionals, they can severely damage a
business.
Topic: Types of Shoplifters
AACSB: Analytic Skills
27
128) Inventory management involves seven other interrelated steps. Identify each and explain
their importance to inventory management.
7. Teach employees how inventory control systems work so that they can contribute to
managing the firm’s inventory on a daily basis. All too often, the employees on the floor have
no idea of how the various information systems and inventory control techniques operate or
interact with one another. Consequently, the people closest to the inventory contribute little to
controlling it.
Topic: Managing Inventory, Introduction
AACSB: Analytic Skills
129) Briefly explain each of the three primary inventory systems.
Topic: Inventory Control Systems
AACSB: Analytic Skills
130) What is a perpetual inventory control system? Explain its advantages and disadvantages.
Topic: Perpetual Inventory Control Systems
AACSB: Analytic Skills
29
131) Discuss the ABC method of inventory control.
Topic: The ABC Method of Inventory Control
AACSB: Analytic Skills
132) What is the value of a physical inventory count? In what ways can it be done?
Topic: Physical Inventory Count
AACSB: Analytic Skills
133) Explain the concept of the “just-in-time” inventory control technique. Under what
circumstances would JIT be most appropriate?
Topic: Just-In-Time (JIT) Inventory Control Techniques
AACSB: Analytic Skills
30
134) What is JIT II? How does it differ from JIT? What is the importance of those differences?
Topic: Just-In-Time II Techniques
AACSB: Analytic Skills
135) How can a small business owner turn slow-moving inventory items into cash?
Topic: Turning Slow-Moving Inventory into Cash
AACSB: Analytic Skills
136) Why do employees steal?
Topic: Employee Theft
AACSB: Analytic Skills
137) How can a small business owner prevent employee theft?
Topic: Preventing Employee Theft
AACSB: Analytic Skills
31
138) Who are the people who shoplift and what can the small business owner do to deter
shoplifting?
Topic: Shoplifting
AACSB: Analytic Skills
32