What is the inventory and explain about process.

Question

Accepted Answer

Inventory refers to the stock of goods or materials held by a company for production, sales, or distribution purposes.

Inventory includes raw materials, work-in-progress, and finished goods.
The inventory process involves tracking and managing the flow of goods from procurement to storage to sales.
It helps in maintaining optimal stock levels, preventing stockouts or overstocking.
Inventory management systems, such as barcode scanning or RFID technology, are used to track and control inventory.
Inventory turnover ratio and carrying cost are important metrics to evaluate inventory performance.
Just-in-time (JIT) and economic order quantity (EOQ) are common inventory management strategies.
Example: A retail store maintains inventory of various products, tracks sales, and restocks accordingly.

Accepted Answer

Inventory refers to the stock of goods or materials held by a company for production, sales, or distribution purposes.

Accepted Answer

Inventory management is a technique of controlling, storing, and keeping track of your inventory items.

Accepted Answer

Inventory management is a technique of controlling, storing, and keeping track of your inventory items.

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