General Studies · Decision Making
Statement: A retail company's inventory manager consistently orders too much stock during seasonal periods, leading to significant markdowns and storage costs. When questioned, the manager says they are 'better safe than sorry' and always order the maximum amount to avoid stockouts, even though sales data shows consistent overordering. What decision-making improvement should be implemented?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Switch to just-in-time inventory management immediately
- 2Hire an additional inventory analyst to double-check all orders
- 3Implement demand forecasting models based on historical sales data and market trends✓
- 4Reduce order quantities by 20% across all products
Correct answer
Implement demand forecasting models based on historical sales data and market trends
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