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What is Effective Inventory Management Strategies about?

Inventory management is important for companies to establish competitive advantages related to quality, prices, overtime costs, and profitability. There are costs associated with inventory including ordering/setup costs and carrying costs. The economic order quantity (EOQ) model balances these costs to determine the optimal order size. Just-in-time (JIT) inventory management aims to reduce inventory levels and costs by having suppliers deliver parts just when needed for production through close supplier rel

Author

Arya Utama

Language

EN