What is inventory management

Question

Accepted Answer

Inventory management is the process of overseeing and controlling the flow of goods from production to sale.

It involves tracking inventory levels, ordering and replenishing stock, and managing stock movements.
Effective inventory management ensures optimal stock levels, minimizes stockouts, and reduces carrying costs.
It includes activities like demand forecasting, inventory valuation, stock audits, and implementing inventory control measures.
Inventory management systems, such as SAP MM, help automate and streamline these processes.
Example: A retail store using inventory management to track and restock products based on customer demand.

Accepted Answer

The goal of inventory management is to follow up the right product from inventory, production, warehouse and sales respectively with perfect timimg

Accepted Answer

Inventory management mean match Physical vs System Stock match .output is minimum variance come.

Accepted Answer

The process of ordering, storing, producing, and the  selling of the companies material.

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