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What is Inventory Management Notes Overview about?

This document discusses inventory management. It defines inventory as materials obtained in advance of need and held until used. There are different forms of inventory like raw materials, work in progress, spare parts, and finished goods. Inventory costs include purchase, ordering, holding, and shortage costs. The objectives of inventory control are to ensure smooth material flow, quality control, investment control, and cost minimization while protecting against demand and output fluctuations.

Author

Sia DLSL

Language

EN