Which term refers to ordering inventory via the internet?

Which term refers to ordering inventory via the internet?

• A. Just in Time Method
• B. Min/Max Method
• C. ITOR
• D. E-Procurement

Answer: (D)

Ordering inventory over the internet is called e-procurement. It uses online tools to create purchase orders, browse supplier catalogs, receive electronic confirmations, and manage approvals and invoicing, often integrated with an ERP system. This approach speeds up purchasing, reduces manual paperwork, and improves visibility and control over spending. The other concepts describe different ideas: Just-in-Time focuses on receiving materials exactly when needed to minimize stock; Min/Max sets predefined inventory trigger points for replenishment; ITOR is a metric that measures how quickly inventory sells, not how it’s ordered. So the online, electronic purchasing term is the best fit.

Ordering inventory over the internet is called e-procurement. It uses online tools to create purchase orders, browse supplier catalogs, receive electronic confirmations, and manage approvals and invoicing, often integrated with an ERP system. This approach speeds up purchasing, reduces manual paperwork, and improves visibility and control over spending. The other concepts describe different ideas: Just-in-Time focuses on receiving materials exactly when needed to minimize stock; Min/Max sets predefined inventory trigger points for replenishment; ITOR is a metric that measures how quickly inventory sells, not how it’s ordered. So the online, electronic purchasing term is the best fit.