What is inventory, how to manage inventory, What is safety stock, what is the order point.

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Accepted Answer

Inventory is the stock of goods a company holds for production or sale. Managing inventory involves tracking, ordering, and storing goods efficiently.

Inventory refers to the goods or materials a company holds for production, sale, or use in its operations.
Managing inventory involves tracking the quantity and location of items, ordering new stock when needed, and storing goods efficiently to minimize costs.
Safety stock is extra inventory held to protect against stockouts or unexpected demand fluctuations.
Order point is the inventory level at which a new order should be placed to replenish stock before it runs out.
Effective inventory management helps businesses meet customer demand, reduce carrying costs, and optimize cash flow.

What is inventory, how to manage inventory, What is safety stock, what is the order point.

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