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This web site is designed to help navigate
you through the mountain loads of information about inventory
management.
The three subsystems are tied together in a single inventory-management system. The inventory management system can also be illustrated in terms of the three subsystems that comprise it. The figure below ties each subsystem together and shows the three items of information needed for the decision to order additional inventory.
Thus, the importance of effective inventory management is directly related to the size of the investment in inventory. To manage its inventories effectively, a firm should use a systems approach to inventory management. A systems approach considers in a single model all the factors that affect the inventory. A system for effective inventory management involves three subsystems namely: 3. stock level
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