MANAGEMENT

Detailed explanation-1: -An inventory manager is a person who is responsible for the stock levels of products. They plan their inventory order sizes and maintain accurate records of inventory quantities.

Detailed explanation-2: -Inventory Managers oversee the ordering, storing, and distributing processes of an organization’s products.

Detailed explanation-3: -Traditional/Buyer Managed Inventories: In this traditional model, the buyer/manufacturer is totally responsible for managing purchase orders and inventory levels for components and materials. Lately, some have been applying the term “Buyer Managed Inventory” (BMI) to clearly classify this traditional strategy.

Detailed explanation-4: -An inventory planner is a professional who is responsible for creating effective inventory plans and strategies to maximize profitability for an organization. Inventory planners are required to produce documents that detail the quantity specifications of the organization’s product or equipment.