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A fledgling business owner, A, is preparing for a sales business and is trying to start his real business by placing an order with a manufacturer. As he has not yet established a stable distribution channel, he plans to produce only a small amount of products and monitor the sales

In our previous series on how to “Master Confusing Inventory Management Lingo” (Part 1), we introduced some of the most commonly used yet misunderstood inventory management terminologies such as Safety Stock, Reserve Stock, and Inventory Maintenance Cost. If you find yourself asking, “How can I put better inventory management into

Here are the definition of keywords that inventory managers must know!

It is not an understatement to say that product warehouse management lies at the heart of an efficient business model. While it may seem obvious, it is essential to manage your inventory for seamless operation. Hospitals, shopping malls, and fitness clubs are just a few of many businesses that directly

The term “cost management” in inventory management signifies efforts to minimize the total cost involved in managing inventory without jeopardizing the supply chain. Many companies are facing theoretical challenges in reducing the total cost in inventory management when determining optimal production or order quantity. First, let’s explore the types

As the new year starts, people's social media are flooded with the classic January tagline "new year, new me", overlaid with pictures of healthy meals, exercise, or a clean house. Whether or not there's something magical about January, it's probably not a