Access accurate and easy-to-understand NCERT Solutions for Class 10 Monitoring and Inventory Management. These solutions help students prepare effectively for exams with clear explanations and step-by-step answers.
Monitoring and Inventory Management Class 10 NCERT Solutions
1. What is inventory management?
Answer: Inventory refers to goods, materials stocked with the purpose of using it in the future or in a systematic manner. The word ‘inventory’ is generally associated with production business wherein the raw materials are produced, stored and released to the market for sales and consumption. It is very important for a physical activity facilitator to keep a track of each prop and equipment so that there is a continuous supply whenever required.
2. Why is it important to conduct periodic audit of inventory?
Answer: Inventory paly important role in sports, the importants of inventory management are:
- Avoids shortages and surpluses
- Saves time and money
- important customer satisfication
- Support Business Growth
- Makes Audits Easy
- Boosts Efficiency
3. What does the term ‘inventory’ refer to in the context of physical education?
Answer: Inventory in physical education denotes goods and materials stored systematically for future use. It ensures a continuous supply of sports goods, and in the context of physical activity facilitators, it includes various sports equipment and props used in sports activities.
4. Why is it important to conduct periodic audits of inventory?
Answer: Periodic audits of inventory are essential for several reasons:
- Accuracy: Audits ensure stock levels match recorded data, preventing discrepancies and ensuring precise financial reporting.
- Loss Prevention: Regular audits help detect theft or damage early, minimizing losses and enabling preventive actions.
- Optimization: By analyzing turnover rates, businesses can optimize stock levels, avoiding overstocking or shortages.
- Customer Satisfaction: Accurate inventory means timely order fulfillment, enhancing customer satisfaction and loyalty.
- Supplier Relations: Reliable inventory data aids suppliers, fostering healthy relationships and efficient supply chain management.
- Compliance: Audits ensure adherence to industry regulations, avoiding legal complications and penalties.
5. Write a short note on Inventory management system.
Answer: Inventory refers to goods, materials stocked with the purpose of using it in the future or in a systematic manner. The word ‘inventory’ is generally associated with production business wherein the raw materials are produced, stored and released to the market for sales and consumption. Inventory refers to goods, materials stocked with the purpose of using it in the future or in a systematic manner. The word ‘inventory’ is generally associated with production business wherein the raw materials are produced, stored and released to the market for sales and consumption.
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