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Inventory Manaegement (Five costs (Human capital (The costs of labor to…
Inventory Manaegement
Five costs
Human capital
The costs of labor to manage stock.Exp: moving it, handling it
Facility costs
Holding costs which include rental, mobile and static equipment. Exp: dangerous goods
Finance costs
The costs of finance and a lot of opportunity investing capital as well when there are capital invest in inventory
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The basics
Location
on-site, off-site, drop sip
Identify
stock keeping units, ID label,unit of measure
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Three service classes
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Scheduled delivery
This goods can be built or customize for particular customers and according to the great delivery time
Define
Is the management of inventory and stock, an element of supply chain management.Inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale.
The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost.
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