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INVENTORY MANAGEMENT (COST IN INVENTORY MANAGEMENT (Purchase Costs -…
INVENTORY MANAGEMENT
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STRATEGIES
POSTPONEMENT LOGISTIC - common in most international manufacturers and its the process of postponing final assembly of goods until it demanded in the offshore market where the goods will be sold
VENDOR MANAGED INVENTORY - manufactures do not need to carry any stock only pays the stock when used
- saves the manufacturers money and consequently load certain costs upon vendors
DEFINATION -Inventory management is the supervision of non-capitalized assets and stock items. Besides, it is a component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.