Georgia DECA Advertising Practice Test

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Which type of software program do businesses use to manage their inventory needs?

Project management
Inventory management
Customer relationship management
Financial management

The correct answer is: Inventory management

Businesses use inventory management software specifically designed to track and manage their inventory levels, orders, sales, and deliveries. This type of software helps organizations keep their inventory organized, optimize stock levels, prevent stockouts, and manage reorder points, which are crucial for maintaining efficient operations and meeting customer demand. In contrast, project management software focuses on planning, executing, and managing projects and tasks, which may not directly address inventory tracking. Customer relationship management software is tailored toward managing a company’s interactions with current and prospective customers, enhancing relationships rather than inventory management. Financial management software handles budgeting, accounting, and financial reporting, which again does not specialize in inventory control. Therefore, the most suitable choice for managing inventory needs is inventory management software, as it provides all the necessary tools for businesses to effectively oversee their stock and related processes.