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CHAPTER 4: INVENTORY MANAGEMENT (costs that involved in inventory…
CHAPTER 4: INVENTORY MANAGEMENT
inventory management definition
:star: 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
Basic inventory management
record
location
identity
plan
costs that involved in inventory management
:recycle:facility cost
:recycle: human capital
:recycle: procurement
:recycle:management cost
:recycle:financial cost
service classes in inventory management
.
non schedule delivery
non critical
critical
Strategies to better manage inventory
:<3:Inventory optimization
:<3:Software as Service(SaaS) cloud applications
:<3:Pick an inventory management platform