Unit 1 Introduction to Inventory Management

Odisha State Open University Page 1 Unit 1 introduction to inventory management Learning Objectives After completion of the unit, you should be able to: Explain the meaning and types of Inventory . Describe the meaning and objectives of Inventory Management . Know the factors affecting the level of Inventory . Also understand the various techniques of Inventory control Modern techniques and Traditional techniques. Structure Introduction Meaning & Types of Inventory Meaning of Inventory Management Significance of holding Inventory Objectives of Inventory Management Factors affecting the level of Inventory Techniques of Inventory control Modern Techniques Traditional Techniques Practice Problems Let s Sum-up Key Terms Self-Assessment Questions Further Readings Model Questions Odisha State Open University Page 2 Introduction A business can run smoothly its operating activities only when appropriate amount of Inventory is

Inventory management is the practice overseeing and controlling of the ordering, ... It has a direct impact on the amount of inventory held by a business concern. 3. Nature of type of product: The product sold by the business may be a perishable product or a durable product. Accordingly, the inventory has to

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  Introduction, Management, Impact, Inventory, Inventory management, Of inventory, 1 introduction to inventory management

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