ECONOMICS

Detailed explanation-1: -Packing materials are anything you use for packing and protecting goods – either while in storage, or during shipping to customers. This is therefore particularly important for online retailers. And may include things like: Bubble wrap.

Detailed explanation-2: -The four types of inventory management are just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI). Each inventory management style works better for different businesses, and there are pros and cons to each type.

Detailed explanation-3: -Inventory management is the supervision of noncapitalized assets–or inventory–and stock items. As 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.

Detailed explanation-4: -As the name suggests, packing material is the inventory you use to pack and ship your finished goods. Packing material usually falls into one of three categories: Primary packing.

Detailed explanation-5: -Supply chain management manages the process from supplier to delivering the product to the customer. Warehouse management is a part of inventory control and focuses on stock in a specific location.