What do you mean by inventory control ? Give the objective and advantage of inventroy control.
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What is the advantages of inventory control?
The goal of inventory control is to increase profits by increasing the efficiency and effectiveness of managing the amount of on-hand, or readily available, inventory. This can help the organization by helping it to: Effectively manage cash-flow and liquidity. Ensure it provides great customer service
What are the objectives of inventory control?
(i) Efficient inventory control methods can reduce but cannot eliminate business risk. (ii) The objectives of better sales through improved service to customer; reduction in inventories to reduce size of investment and reducing cost of production by smoother production operations are conflicting with each other
What are the benefits of inventory control?
Explain Benefits or Importance of Inventory Control
Inventory control protects a company from fluctuations in demand of its products.It enables a company to provide better services to its customers.It keeps a smooth flow of raw-materials and aids in continuing production operations.It checks and maintains the right stock and reduces the risk of loss
The goal of inventory control is to increase profits by increasing the efficiency and effectiveness of managing the amount of on-hand, or readily available, inventory. This can help the organization by helping it to: Effectively manage cash-flow and liquidity. Ensure it provides great customer service
What are the objectives of inventory control?
(i) Efficient inventory control methods can reduce but cannot eliminate business risk. (ii) The objectives of better sales through improved service to customer; reduction in inventories to reduce size of investment and reducing cost of production by smoother production operations are conflicting with each other
What are the benefits of inventory control?
Explain Benefits or Importance of Inventory Control
Inventory control protects a company from fluctuations in demand of its products.It enables a company to provide better services to its customers.It keeps a smooth flow of raw-materials and aids in continuing production operations.It checks and maintains the right stock and reduces the risk of loss
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