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Q » Explain inventory management techniques.
06 Dec, 2025
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A » Inventory management techniques include Just-In-Time (JIT), which minimizes stock levels by ordering only as needed; ABC analysis, categorizing inventory based on importance; Economic Order Quantity (EOQ), optimizing order size to minimize costs; safety stock, maintaining extra inventory to prevent shortages; and First-In-First-Out (FIFO), ensuring older stock is sold first. These methods help streamline operations, reduce costs, and enhance customer satisfaction.
06 Dec, 2025
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