National Occupational Competency Testing Institute (NOCTI) Cosmetology Practice Exam

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Prepare for the NOCTI Cosmetology Exam. Test your skills with flashcards and multiple-choice questions, each with detailed explanations. Ace your exam!

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What term refers to the total number of retail products on hand in a salon?

Inventory
Stock list
Catalog
Supply chain

The correct answer is: Inventory

The term "inventory" accurately refers to the total number of retail products available for sale in a salon. Inventory management is essential in a salon setting because it allows the business to keep track of the products that are available for customers, ensuring that popular items are readily on hand to meet customer demand. This can also aid in managing finances, as understanding inventory levels can help prevent overordering or stockouts. While a "stock list" might seem similar, it usually represents a specific listing of items rather than the overall total quantity of products. A "catalog" typically refers to a document or website showcasing products available for sale, rather than a count of what is currently in stock. The term "supply chain" involves the broader system of production, processing, and distribution, encompassing all stages from raw materials to final delivery, which is not limited to just the salon's retail products.