01-01-2013, 02:10 PM
Online Inventory Management
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Abstract
About Inventory
The word inventory simply means the goods and services that businesses hold in stock. There's many different ways that companies handle their inventory. Overall it depends on what kind of business it is. For example, a food manufacturer who makes canned fruit may take into account every single piece of that can in its inventory. The materials used to make the can, the labels, the fruit, and the sugary filling could all be part of the overall analysis of inventory. Keeping track of inventory can be a complex process.
About Online Inventory Management
Inventory is more than a substantial investment; it is usually a company’s largest asset. Smart companies have found that the ability to manage this asset is a key factor in their ultimate success or failure.
For manufacturers and distributors striving to compete in a fierce marketplace, effective inventory management helps them avoid stocking too much of the wrong products and not enough of what customers want. It allows them to meet and exceed customer expectations of product availability while maximizing profits.
This final report from the study highlights the relationships among manufacturers, distributors, and retailers. It does not look at materials requirement planning for the manufacturing process.