Inventory management: Difference between revisions
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In simple terms, if inventory levels are too high, significant investment and storage costs will be incurred. | In simple terms, if inventory levels are too high, significant investment and storage costs will be incurred. | ||
But if inventory levels are kept too low, the chance of inventory running out and lost sales will increase. | But if inventory levels are kept too low, the chance of inventory running out and lost sales will increase. | ||
Effective inventory management - among other things - identifies an appropriately balanced level of inventory. | Effective inventory management - among other things - identifies an appropriately balanced level of inventory. | ||
== See also == | == See also == | ||
* [[Consignment stock]] | |||
* [[Inventory]] | * [[Inventory]] | ||
* [[Inventory turnover ratio]] | |||
* [[Just in case]] | * [[Just in case]] | ||
* [[Just in time]] | * [[Just in time]] | ||
[[Category:The_business_context]] | |||
[[Category:Manage_risks]] | |||
Latest revision as of 15:01, 8 October 2020
In simple terms, if inventory levels are too high, significant investment and storage costs will be incurred.
But if inventory levels are kept too low, the chance of inventory running out and lost sales will increase.
Effective inventory management - among other things - identifies an appropriately balanced level of inventory.
