Standardization and simplification of inventories, Business Management

For proper inventory control standardization of materials and products as well as simplification of the production line is necessary standardization refers to limiting of a production line to define types sizes and characteristics which are considered to be standard by which a comparison on evaluation can be made. Specification for components should also be fixed. it will ensure the quality or products manufactures. Simplification in inventories refers to the elimination of excess types and sizes of items. It leads to reduction in inventories and carrying cost.

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