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Copy of Inventory Control

Copy of Inventory Control

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Published by Sudip Kumar

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Published by: Sudip Kumar on Nov 24, 2010
Copyright:Attribution Non-commercial

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11/24/2010

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Inventory Management andcontrol
 
D
efinitions
Inventory-
 A 
physical resource that a firmholds in stock with the intent of selling it ortransforming it into a more valuable state.
Inventory System
-
set of policies andcontrols that monitors levels of inventory anddetermines what levels should be maintained,when stock should be replenished, and howlarge orders should be
 
Inventory
D
ef.
-
physical resource that a firm holds instock with the intent of selling it ortransforming it into a more valuable state.
Raw Materials
Works
-
in
-P
rocess
Finished Goods
Maintenance, Repair and Operating (MRO)

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