Principles of International Business
Inventory management is the process of overseeing and controlling the ordering, storage, and use of a company's inventory. This includes tracking inventory levels, orders, sales, and deliveries to ensure that there is an adequate supply of products to meet customer demand while minimizing excess stock and associated costs. Effective inventory management is crucial for maintaining a smooth global supply chain, as it helps businesses optimize their operations, reduce costs, and improve customer satisfaction.
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