Reference no: EM132914848

"Inventory control is a planned approach of determining what to order, when to order and how much to stock so that costs associated with buying and storing are optioned without interrupting Production sales".

Refer to the statement above;

a) Explain the benefits that may be enjoyed by a company that strategically controls its inventory.

b) Discuss the various inventory control techniques that are employed by inventory managers to day in a bid to minimize costs associated with holding stock.

c) Elaborate on the different costs associated with holding stock in an organization