At any moment of time, every company holds some stock of various items. These items collectively make up the inventory
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The methods used to control inventory focus on • Classification of inventory • Setting up minimum stock levels and ordering
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Reorder Level To maintain a satisfactory level of inventory for every material, a specific quantity is fixed as the reorder
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Different companies have different ordering methods, depending upon their product mix, warehouse and store locations, production or sales cycles, supplier
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• Inventory can hold a lot of money in investment for any manufacturing or trading company. It is an important
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