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Managers can aware by monitoring the average age of inventory, what their pricing strategy should be. The average age of inventory… […]
The Inventory Turnover Ratio is also known as stock velocity is normally calculated as “sales/average inventory” or “cost of… […]
VED Analysis: The VED analysis employed in inventory control is used generally for spare parts. It is an important, necessary and desirable analysis. The requirements and urgency of spare parts is different from that of […]
A-B-C analysis helps to concentrate more efforts on category A since greatest monetary advantage will come by controlling… […]
Economic order quantity is the point at which inventory carrying costs are equal to order costs. EOQ is that order quantity or… […]
The stock-out can prove costly by affecting the smooth working of the concern. In order to protect against the stock out arising… […]
When the quantity of materials reaches a certain figure then fresh order is sent to get materials again. The order is sent before… […]
Inventory holds a significant amount of capital, if not the majority of a company’s capital. As a result, it is critical to control… […]
Due to the absence of stock, the company may have to pay high prices because of piece-wise purchasing. Maintaining inventory… […]
There are mainly three types of Inventory costs : (i) Holding cost (ii) Shortage or stock-out cost (iii) Set-up cost … […]
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