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Inventory Management 2003

Inventory Management 2003

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Published by Amol Shelar

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Published by: Amol Shelar on Sep 11, 2010
Copyright:Attribution Non-commercial

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11/18/2012

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Inventory Management& Techniques
 
Definitions
Inventory-
 A phy
sical
r
esou
r
ce
 
h
at 
 
a
 
fi
rmh
olds
 
in
 
stock
w
it 
h
h
e
 
intent 
 
of 
 
selling
 
it 
 
o
r
r
ansfo
rm
ing
 
it 
 
into
 
a
m
o
r
e
v
aluable
 
state.
Inventory System
-
 A
set 
 
of 
p
olicies
 
and
 
cont 
r
ols
 
h
at 
m
onito
r
s
 
le
v
els
 
of 
 
in
v
ento
ry
and
 
dete
rm
ines
wh
at 
 
le
v
els
 
s
h
ould
 
be
m
aintained,
 wh
en
 
stock
 
s
h
ould
 
be
r
e
p
lenis
h
ed,
 
and
h
o
w
la
r
ge
 
o
r
de
r
s
 
s
h
ould
 
be
 
Z
e
r
o
I
n
v
ento
ry?
R
educing
 
a
m
ounts
 
of 
 
raw materials
and
 
purchased parts
and
 
subassemblies
b
yh
a
v
ing
 
su
pp
lie
r
s
 
deli
v
e
r
h
e
m
di
r
ectl
y
.
R
educing
 
h
e
 
a
m
ount 
 
of 
 
works-in process
b
y
using
j
ust 
-
in
-
ti
m
e
pr
oduction.
R
educing
 
h
e
 
a
m
ount 
 
of 
 
f
inished goods
b
y
s
h
i
pp
ing
 
to
m
a
r
kets
 
as
 
soon
 
as
p
ossible.

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