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Inventory management includes all activities of forecasting and replenishment.
Since inventory is an important element in operation, activities controlling the level of inventory generally would affect significantly to a company. Thus, Inventory are held in order to manage and hide from the customer the fact that manufacture/supply delay is longer than delivery delay, and also to ease the effect of imperfections in the manufacturing process that lower production efficiencies if production capacity stands idle for lack of materials. (www.wikipedia.com/inventorymanagement)
The various activities listed are used to control inventory and planned for replenishment...
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