inventory management definition

inventory management

Policies, procedures, and techniques employed in maintaining the optimum number or amount of each inventory item. The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost. Since, for many firms, inventory is the largest item in the current assets category, inventory problems can and do contribute to losses or even business failures. Also called inventory control. See also inventory analysis.

inventory management is in the Inventory Control & Storage subject.

inventory management appears in the definitions of the following terms: commerce server, inventory control, kit and backorder

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