INVENTORY MANAGEMENT
Introduction
Inventories constitute the most significant part of current assets of the business concern. It is also essential for smooth running of the business activities.
A proper planning of purchasing of raw material, handling, storing and recording is to be considered as a part of inventory management. Inventory management means management of raw materials and related items. Inventory management considers what to purchase, how to purchase, how much to purchase, from where to purchase, where to store and when to use for production etc.
Introduction
Inventories constitute the most significant part of current assets of the business concern. It is also essential for smooth running of the business activities.
[Post Image Courtesy of CuteImage at FreeDigitalPhotos.net]
A proper planning of purchasing of raw material, handling, storing and recording is to be considered as a part of inventory management. Inventory management means management of raw materials and related items. Inventory management considers what to purchase, how to purchase, how much to purchase, from where to purchase, where to store and when to use for production etc.
Inventory Management
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Friday, July 28, 2017
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