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Firms that establish effective inventory management policies, perform accurate sales forecasts and distribution operations are adhering to the customer service objective of reliability.
The practice of purchasing, keeping, using, and distributing a company's inventory is known to as inventory management. This covers the storage and management of such commodities as well as the administration of raw resources, parts, and completed goods. Depending on a company's demands, there are various forms of inventory management, each one with benefits and disadvantages. One of a company's most significant resources is its inventory. For retail, industrial, food premises, as well as other stock sectors, a firm's inputs and final goods form the foundation of its operation. Where and when inventory is needed, a shortfall can be very harmful.
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