Excellent Planning and Controlling of Material and Inventory Verified listing

Importance of Inventory Management
• Higher profits through reduced costs and increased sales
• Improved customer service
• Reduced inventory investment
• Increased productivity
• Inventory record accuracy

Types of Inventory Management Strategies
• Material requirements planning
• Hybrid push–pull
• Supply chain management

Objectives of Inventory Planning
• Customer satisfaction
• Forecasting needs
• Controlling costs
• Successful storage