Basic Concepts of Inventory Management

In every businesses ad organization in the society, all of the functions are linked and connected with one another and usually overlaps. There are several important aspects such as supply chain management, inventory and logistics that make the businesses delivery function’s backbone. In other words, these key aspects are factors for every marketing manager and the finance controller. Inventory management is an extremely important key aspect.

This determines the supply chain’s health and how it brings impacts to the balance sheet’s health. All of the organizations, cooperatives and companies are striving to achieve and obtain the optimum inventory so that it can meet the needed requirements and they can avoid an under or over inventory that might bring a big impact to the financial statistics. Continue reading

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