Question

What is Inventory? Discuss the role of Inventory Management.

Answer 1

component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves a warehouse or point of sale.

Answer 2

Answer:

The role of inventory management is to maintain a desired stock level of specific products or items. The desired level is a function of customer service requirements and the cost of inventory investment. ... The mission is to address the activities and techniques to best manage inventories.