Operating and Controlling the System
After designing the operations systems, it is very important to constantly check the status of the system and improve the same to achieve faster and more efficient outcome. Inventory management...
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Inventory refers to all the materials the company posses during different stages of the production. Inventory Types It is normally classified into three categories. Raw materials Work-in-progress...
View ArticleInventory Costs
There are two basic types of costs associated with current assets. Carrying costs Shortage costs Carrying costs Carrying costs represent all of the direct and opportunity costs of keeping inventory on...
View ArticleInventory Management
There are three techniques for inventory management: ABC Approach Economic Order Quantity Model Managing Derived-Demand Inventories The ABC (Always Better Control) Approach It is a simple approach in...
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