Define inventory managment . Describe inventory controle models
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Defination
Inventory management is the supervision of non-capitalized assets (inventory) and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.
inventory control modles:
The three inventory control models and their driving factors are: 1. Economic order quantity - this inventory control model is used to determine that order size that will help in minimizing the ordering costs and the carrying costs.
Inventory management is the supervision of non-capitalized assets (inventory) and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.
inventory control modles:
The three inventory control models and their driving factors are: 1. Economic order quantity - this inventory control model is used to determine that order size that will help in minimizing the ordering costs and the carrying costs.
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