What is inventory management PPT?

Free Download Inventory Management PPT with PDF: Inventory management is obliged for the goods in inventory, also to their inward flow and outward flow. It looks after the units in a firm and makes sure that they are in a moderate amount which does not affect the performance of a company.

What are the steps involved in inventory management?

List the types of inventory and their classification; Explain the inventory management concepts; Evaluate the inventory management costs; Calculate the economic order quantity (EOQ) and Total inventory costs; Discuss inventory management control systems What is Inventory?

Why is inventory management important in a company?

Like other branches of management, inventory management is also a vital branch of management that aids in the good results of a company. An inventory manager should manage the time well and should know about each unit like the time taken by a unit for processing and reaching inventory because there should not be any scarcity in inventory.

What are inventories in business?

What is Inventory? Inventories are: stockpiles of raw materials, supplies, components, work in progress and finished goods appear at numerous points throughout a firm’s production and logistics channel Where can you find inventories? Inventory Management

What is inventory?

3. What is inventory? A physical resource that a firm holds in stock with the intent of selling it or transforming it into a more valuable state. Purpose of inventory management • How many units to order? • when to order? discount

What should an inventory manager know about inventory management?

An inventory manager should manage the time well and should know about each unit like the time taken by a unit for processing and reaching inventory because there should not be any scarcity in inventory. Inventory management is also supplied with the value of raw materials and their cost in making finished products.

What are the different types of inventory control systems?

10. Inventory Control Systems Continuous system (fixed-order-quantity) Periodic system (fixed-time-period) • constant amount ordered when inventory declines to predetermined level • order placed for variable amount after fixed passage of time 11.

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