What are objectives of inventory management ?

Inventory management is a crucial function for businesses of all sizes and industries. The objectives of inventory management are multifaceted and aim to strike a balance between ensuring a smooth production or distribution process while minimizing costs and maintaining adequate inventory levels. Here are the primary objectives of inventory management:

1. Ensure Sufficient Stock: One of the primary objectives is to have enough inventory on hand to meet customer demand. Maintaining sufficient stock levels prevents stockouts, backorders, and potential loss of sales.

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