ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A primary concern to retail, wholesale, and manufacturing is ____
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Planning purchases
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Inventory management
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Managing purchases
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Inventory control
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Explanation:
Detailed explanation-1: -What is Manufacturing Inventory Management? Manufacturing inventory management is the process of tracking the inventory of products and goods in multiple stages of production. Effective manufacturing inventory management reduces production costs and streamlines operations.
Detailed explanation-2: -Purchase management is managing the purchase of the goods and services that the company requires from suppliers and vendors. It is often an integral part of the company’s operations and is an opportunity to improve the efficiency and profitability of the company.
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