The first scope of inventory management is to record all items that come into the business. The item should then be tracked through storage in a warehouse, going on to the shelf, selling to a customer.
Inventory management helps businesses have the right products available for customers. Inventory management includes choosing the right suppliers for the business.
identifying requirements, order timing, minimizing product-on-hand, establishing storage and security procedures.
nThe main objective of the project is to provide better inventory management system to the supermarket manager. nThus, providing the current stock details, employee details, new items to be added, transactions as well as reports.
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Inventory management is a science primarily about specifying the shape and percentage of stocked goods.
what is definition of inventory? what is the difference between inventory and asset?
The advantages of inventory management are to help you to reduce inventory holding thus increase your profit. Inventory data accuracy will be improved as all the incoming and outgoing stocks are recorded properly in the system. With proper inventory management, you can increase productivity by reducing the head counts and overtime.