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INVENTORY MANAGEMENT (3) 5 COST INVOLVES (finance cost, management cost,…
INVENTORY MANAGEMENT
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1) DEFINITION
Inventory management is the supervision of noncapitalized
assets (inventory) and stock items. inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.
A key function of inventory management is
to keep a detailed record of each new or
returned product as it enters or leaves a
warehouse or point of sale.