Importance of Inventory Management – 13 Benefits You should know
Do you know the importance of inventory management? i'm sure most of you'll say yes! But does one know the complete range of advantages of inventory management? Inventory management enhances business operations with the effective flow of products and services. Inventory Management and control implies the controlling of business stock or controlling the movement of products and services following their demand. Inventory Management and control are highly beneficial in today’s business world because it makes an important part in any business success/failure having intense competition within its industry. the advantages of inventory management and therefore the knowledge about its usage are vital for enhancing product quality, improving competitive ability, reducing inventory carrying costs by reducing inventories, service enhancement, and operational flexibility through pull systems. Inventory Management and control provide actions & strategies that are integrated into all m