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How to Calculate the Reorder Point

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Lessons List | 7 Lesson

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Hameed Adeniran Salako

Astonishing 2024-04-24

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Interesting One 2024-04-23

Muhammad Hamza Bilal

Very good 2024-04-18

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GOOD COURSE 2024-04-16

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Course Description

What are the 4 types of inventory? There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.What are the methods of inventory management? Inventory Management Techniques Economic order quantity. ... Minimum order quantity. ... ABC analysis. ... Just-in-time inventory management. ... Safety stock inventory. ... FIFO and LIFO. ... Reorder point formula. ... Batch tracking.What is the main purpose of inventory management? The primary purpose of inventory management is to ensure there is enough goods or materials to meet demand without creating overstock, or excess inventory.