Different types and costs of inventory

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Reference no: EM132239342

Make a paraphrase for this paragraph.

This course teaches me the different types and costs of inventory and how to manage them. Also I understand how the companies software systems create, drive, coordinate, and define the inventory levels. More over this course shows me how to analyze and control that inventory throughout the organization.

The common definition of inventory is any company asset that is held for future use or for the future to sale. Maybe you will hold on to finish the product or just the materials, parts, and components that makeup the finished product. You should plan, coordinate and control all aspect of your inventory. To illustrate, buying, moving, storing and selling.

You need to know that you should manage the inventory to the lowest level possible but still you meeting your customer's needs and to do that, you should understand the different type of inventory.

Inventory management is the most important aspect for business success. The goal is to have the right amount of inventory in the right place at the right time.

Reference no: EM132239342

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