Explain elements of inventory management

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Reference no: EM13115950

o Describe elements of inventory management.

o Describe the meaning of the category of inventory and explain why it is critical to manage each element.

o Explain why accurate forecasting is so important to sales enhancement, customer satisfaction, and cost control.

o Identify the number of units to purchase for the new distance measurement device based on the economic order quantity.

o Identify the number of orders per year that must be made to take advantage of the economic order quantity.

Reference no: EM13115950

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