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Invetory Management (5 costs that involved in inventory management…
Invetory Management
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Definition
Inventory Management is the practice overseeing and controlling of the ordering, storage and use of components that a company uses in the production of the items it sells. In addition, inventory management also is the practice of overseeing and controlling of quantities of finished products for sale. A business's inventory is one of its major assets and represents an investment that is tied up until the item sells.