Question
What do you understand by inventory and its control. With the help of suitable examples, analyze the advantages and disadvantages of keeping inventory by a manufacturing company.
Answer :
Word Count : 285
Inventory refers to the stock of raw materials, work-in-progress, finished goods, and spare parts that a manufacturing company keeps to ensure smooth production and uninterrupted supply to the market. Inventory control is the systematic process of planning, ordering, storing, using, and monitoring these materials so that the right quantity is available at the right time and at ____ __________ ___ ________ _____ __________ _______ ___ ___ _________ ________ __________.
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Inventory refers to the stock of raw materials, work-in-progress, finished goods, and spare parts that a manufacturing company keeps to ensure smooth production and uninterrupted supply to the market. Inventory control is the systematic process of planning, ordering, storing, using, and monitoring these materials so that the right quantity is available at the right time and at ____ __________ ___ ________ _____ __________ _______ ___ ___ _________ ________ __________.
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