MANAGEMENT

Detailed explanation-1: -Inventory management is the process of ordering, handling, storing, and using a company’s non-capitalised assets – AKA its inventory. For some businesses, this involves raw materials and components, while others may only deal with finished stock items ready for sale.

Detailed explanation-2: -Inventory management is a technique of controlling, storing, and keeping track of your inventory items. Inventory management is an essential component of supply chain management, as it regulates all the operations that are involved from the moment an item enters your store until it has been dispatched.

Detailed explanation-3: -Inventory management refers to the process of ordering, storing, using, and selling a company’s inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items.

Detailed explanation-4: -Store inventory control is the process of keeping track of stock levels across your retail stores. This can relate to both physical and ecommerce online stores. It encompasses everything from purchasing right until the point it reaches the retail store.

Detailed explanation-5: -Just-in-time, or JIT, is an inventory management method in which goods are received from suppliers only as they are needed. The main objective of this method is to reduce inventory holding costs and increase inventory turnover.