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Benefits of Inventory Management

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Inventory management is vital for most companies, including manufacturing and retail facilities. Maintaining the appropriate levels of inventory is important, because having excess inventory is costly. Inventory management helps in controlling and balancing both outgoing and incoming merchandise. 1. Streamlines operations All manufacturing facilities are supposed to maintain good inventory of all the necessary supplies … Read more

Benefits of JIT

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Benefits of JIT JIT is basically the theory that items are delivered to the required point at the correct time and in correct quantities. The main aim of JIT is to minimize waste linked with inventory and thus stock ought to be delivered and components or goods manufactured just in time. There are various losses … Read more