Inventory management

10.07.2013 09:35

Inventory management

1) The effective management of stock, materials, parts and finished products, including additions and deletions (ie control of movements in and out).

Essential for determining capital investment returns and the viability of stock levels and for the avoidance of opportunity cost (ie money tied up in stock that could be better used).

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.129 (288 p.)




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