Explain cost must be balanced and minimised through inventory control?

Q: xplain what is ABC inventory classification system and indicate it's advantages?

A: Action Based Costing, or ABC, is a technique for designating overhead and direct costs identified…

Q: Explain what are the inventory management responsibilities?

A: Inventory management's primary responsibilities include the following:-

Q: Discuss what are just in time inventory benefits and drawbacks for a business?

A: Inventory refers to the storage, products, and resources that an organization has on hand for resale…

Q: Discuss the ABC inventory classification system and indicate it's benifits?

A: Inventory management is the process of a ordering, storing, and utilizing a business's inventory.…

Q: What Is The Elements of Inventory Management?

A: Inventory control includes ordering, storing, and using a company's inventory. This includes the…

Q: Explain the difference between a fixed-quantity and a fixed-period inventory system?

A: Introduction- Inventory is a phrase that relates to all the goods, goods, goods, and materials that…

Q: Explain how are service level and inventory level dependent on each other

A: Level of service is a technology or equipment for measuring a system's productivity and…

Q: Discuss the 3 elements of inventory management ?

A: Inventory management is the management in which stock is sourced, stored, and sold in the market.

Q: Define Inventory Management?

A: Inventory management is the supervision of the non-capitalized assets, or inventory, as well as…

Q: Explain the purchase decision and the inventory model for a single cycle?

A: Businesses that use seasonal or one-time substances may benefit from a single cycle inventory model.

Q: why and how companies should manage inventory level?

A: Inventory level:- The amount of inventory you have available across your whole distribution network…

Q: Discuss the elements of inventory management?

A: Inventory control includes the purchasing, storage, and utilization of a business's inventory. This…

Q: Explain and Describe how a quantity based inventory system differs from one that employs a fixed…

A: The maximum and minimum amount of possessions and talents required for a particular order quantity…

Q: Sam is at the post office to mail a package. After he pays for mailing the package, the clerk asksif…

A: Inventory Standpoint:                 Inventory standpoint is very important in inventory…

Q: Identify and explain the types of costs that are involved in an inventory system.

A: Inventory management is a concept related to managing the business's inventory levels and ensuring…

Q: Discuss what are the inventory management responsibilities?

A: Inventory management's primary responsibilities include the following:

Q: What is the purpose of inventory control?

A: A computerised inventory control system integrates all facets of inventory management into a single…

Q: Explain what are the advantages of inventory control?

A: Inventory control benefits include the ability to maintain a minimum and maximum level of inventory…

Q: Describe some of the ways that inventory can be reduced in the supply chain?

A: The supply chain is the system of resources, technologies, processes, and employees that help to…

Q: What are the different types of inventory carrying costs? Are these expenses constant or variable,…

A: Inventory are the material i.e Raw material work in progress finished goods

Q: How may quantity vary and time remain fixed in case of continuous inventory review system?

A: What is Continuous Review System  A system where the stock level of every item is determined each…

Q: Explain the differences between single period inventory system and multi period inventory system?

A: In any manufacturing company, inventory and management of inventory are very important. Inventory…

Q: Define the cost of inventory

A: Inventory management is the management in which stock is sourced, stored, and sell in the market…

Q: Explain Inventory Reduction Tactics?

A: Below are few tactics to reduce inventory in the organizations: They are:

Q: State the 3 elements of inventory management ?

A: Inventory management is the operation of purchasing, warehousing, and utilizing the inventory of the…

Q: Discuss the various forms of inventory costs and use examples from the article to illustrate your…

A: Inventory can be referred to as the raw material that is utilized in the manufacturing of the goods.…

Q: What conditions must exist for good inventory management ?

A: It is the administration of non-capitalized assets, such as stock items. Warehouse management is a…

Q: Explain INVENTORY CONTROL SYSTEMS?

A: Inventory is the term that refers to the stock or goods, which are important for the operations of…

Q: Discuss what is stock out cost , carrying cost in inventory management?

A: STOCK OUT COST: A stock out cost generally referred to as all the costs that are associated with an…

Q: Describe what is carrying cost in inventory management?

A: Carrying costs are the costs associated with storing stocks in warehouses or retailers.…

Q: how does inventory cost affect inventory size? Explain?

A: There are three inventory-related costs are involved that significantly affect the inventory size…

Q: Explain the ABC inventory classification system and indicate it's pros?

A: Inventory management is the process of ordering, storing, and utilizing a business's inventory. This…

Q: Describe what is ABC classifications in inventory management?

A: Organizations classify and categorize inventory items in order to maintain proper control over them.…

Q: Explain the process of Inventory control.

A: Inventory Control means the steps involved in the maintaining the stock of the organisation .  It…

Q: Explain the process of managing inventory systems

A: Inventory management is the procedure of sourcing, storing, then utilizing the inventory costs,…

Q: Discuss what is carrying cost in inventory management?

A: Supply chain management is the management in which raw materials and resources are converted into…

Q: Describe what are the elements of inventory management?

A: Inventory control is the procedure for acquiring, storing, and utilising a business's inventory.…

Q: Explain how are inventory levels monitored in retail stores

A: All commodities and resources utilized or sold to the public by a firm are referred to as inventory…