ENTREPRENEURSHIP

Detailed explanation-1: -A perpetual inventory system allows a company to track everything related to its inventory and supply chain in real time. With this method, the company updates stock levels and relevant reports after every sale, delivery or breakage.

Detailed explanation-2: -The Economic Order Quantity inventory management method is one of the oldest and most popular. EOQ lets you know the number of inventory units you should order to reduce costs based on your company holding costs, ordering costs, and rate of demand.

Detailed explanation-3: -Inventory turnover is the rate that inventory stock is sold, or used, and replaced. The inventory turnover ratio is calculated by dividing the cost of goods by average inventory for the same period. A higher ratio tends to point to strong sales and a lower one to weak sales.