by Mausmi Ambastha
01-November-2012 | 19 mins read
Inventory can be defined as the stock maintained between any two processes for uninterrupted operation. Inventory is maintained primarily due to two reasons – to optimize the sourcing cost (where requirement is predictable) and to minimize the risk of stock out (where requirement is unpredictable). The overseeing and controlling of ordering, storage, usage and disposal of raw material as well as finished goods’ inventory, are the key aspects of inventory management.
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