What is a warehouse's main job in a supply chain?
AnswerStoring goods until they are needed
Warehouses hold inventory between production and delivery.
Business · Facts & stats
Supply facts & stats
7 fact-checked facts about supply chains, logistics and inventory, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
In business, what is 'inventory'?
AnswerThe stock of goods a business holds
Inventory is the goods and materials a business keeps on hand.
Going deeper
Just-in-time manufacturing is most closely associated with which company?
AnswerToyota
Just-in-time is a core part of the Toyota Production System.
What does SKU stand for in retail?
AnswerStock keeping unit
A SKU is a code that identifies a distinct product for inventory.
What does FIFO mean in inventory management?
AnswerFirst in, first out
FIFO means the oldest stock is used or sold first.
Expert level
Who is credited with launching modern container shipping in 1956?
AnswerMalcom McLean
Trucking entrepreneur Malcom McLean pioneered intermodal containers.
The first product scanned with a UPC barcode at a store checkout in 1974 was a pack of what?
AnswerChewing gum
A pack of Wrigley's gum was scanned in Troy, Ohio, in June 1974.
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