AGILE MANUFACTURING THROUGH INVENTORY MANAGEMENT

<p class="comp"><em>Inventory management is a systematic approach to sourcing, storing, and selling inventory both raw materials (components) finished goods (products). In business terms, means the right stock, at levels, in place, time, cost as well price. Inventory </em><em>refers process of ordering, storing using company's inventory. This includes materials, components products, warehousing processing such items. For companies with complex supply chains manufacturing processes, balancing risks gluts shortages especially difficult. At same can be thought liability (if not an accounting sense). A large carries risk spoilage, theft, damage or shifts demand. must insured, if it sold time may have disposed clearance prices simply destroyed. these reasons, important for businesses any size. Knowing when restock inventory, what amounts purchase produce, price pay <a href="https://www.investopedia.com/articles/stocks/10/when-to-sell-stocks.asp">when sell</a> pric easily become decisions. Small will often keep track stock manually determine reorder points quantities Excel formulas. Larger use specialized href="https://www.investopedia.com/terms/e/erp.asp">enterprise resource planning (ERP)</a> software.</em></p>