Sales and Purchases Inventory management
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Overview sales management is the discipline of maximizing the benefits a company and its customers receive from the efforts of its sales force. Sale of products and services and resulting profit. Purchase management is one of the most crucial area of the entire organisation.purchasing is a department in an organization responsible for purchasing activities inventory management is a specifying the size and placement of stocked goods. Inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting and also by replenishment or can be defined as the left out stock of any item used in an organization. Benefits: inventory management is primarily about specifying the shape and percentage of stocked goods. Inventory management leads to optimal inventory levels. Inventory management can also help companies improve cash flows. A good inventory management strategy helps save time and money. A good inventory management strategy increases efficiency and productivity.
inventory management
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The overseeing and controlling of the ordering, storage and use of components that a company will use in the production of the items it will sell as well as the overseeing and controlling of quantities of finished products for sale. A business's inventory is one of its major assets and represents an investment that is tied up until the item is sold or used in the production of an item that is sold. It also costs money to store, track and insure inventory. Inventories that are mismanaged can create significant financial problems for a business, whether the mismanagement results in an inventory glut or an inventory shortage.
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