Advantages of Inventory Management
The advantages gained by the firm by managing the
inventory effectively are
Ø Introduction of a proper inventory management
system holds in keeping the investment in the inventories as low as feasible.
Ø Ensures availability of material by providing
adequate protection against uncertainties of supplies and consumption of
materials.
Ø Allows full advantage of economics of bulk
purchases and transportation.
Ø Leads to reduction in inventory levels
Ø Releases more of capital for other operations.
Ø Adequate customer service.
Ø Advantage of price discounts by bulk pricing.
Ø Providing flexibility to allows change in
production lines due to changes in demands on any other reason.
Ø Even out the workloads on the soaps in the face
fluctuations demands.
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Asset Tracking Software
IT Asset Management Software
Fixed Asset Management Software
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