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What is Material Management and Inventory Control about?

Material management and inventory control involves acquiring, shipping, receiving, evaluating, warehousing, and distributing goods to maintain continuity of operations and reduce material costs. Inventory is stock kept to meet future demand and includes raw materials, purchased parts, work-in-process products, items being transported, and tools. Inventory control is a system that determines what to order, when to order, how much to order, and how much to stock to balance carrying costs, ordering costs, and

Author

Naman Sharma

Language

EN