answersLogoWhite

0

By taking a JIT approach to inventory and product handling, companies can often cut costs significantly. Inventory costs contribute heavily to the company expenses, especially in manufacturing organizations. By minimizing the amount of inventory you hold, you save space, free up cash resources, and reduce the waste that comes from obsolescence.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

History of inventory system?

The history of inventory systems depends on the type of inventory system being discussed. There are two main types of inventory systems, the perpetual inventory system and the periodic inventory system.


Why is it important to periodically take a physical inventory if the perpetual system is used?

A perpetual system does not account for theft.


Formulation of inventory policy is an important element?

Computations, which balance the cost to order the item against the cost to hold ... 6 Most Important Techniques of Inventory Control System.


What is NEPA inventory system?

nepa inventory system


What is the scope of inventory system?

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.


Discuss the features of computer based inventory system?

COMPUTER BASED INVENTORY SYSTEM COMPUTER BASED INVENTORY SYSTEM


What is merchandise inventory system?

Merchandise inventory:


How do you ask questions regarding inventory system?

what are the possible questions for inventory system?


What methods do not require a physical inventory periodic inventory system perpetual inventory method retail method or gross profit method?

periodic inventory system


What are the disadvantages of a periodic inventory system?

The perpetual inventory system is more complicated, requires more accounting entries and is more costly the periodic inventory system does.


What are the disadvantages of periodic inventory system?

The perpetual inventory system is more complicated, requires more accounting entries and is more costly the periodic inventory system does.


How is IT useful in Inventory control system?

to practice he/she's knowledge how to use the inventory system