Question
Discuss the techniques of Inventory Control.
Answer :
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Inventory control is a critical function in logistics management, ensuring that the right amount of inventory is available to meet demand while minimizing storage costs. One common technique is Economic Order Quantity (EOQ), which calculates the optimal order quantity that minimizes total inventory costs, balancing ordering and holding costs. Another widely used method is Just-in-Time (JIT), which aims to minimize inventory by ordering stock only when needed, thus reducing storage costs and minimizing waste. ABC Analysis is another effective technique where inventory items
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