Definition
Inventory management is the process of overseeing and controlling the storage, movement, and availability of goods or materials within an organization's inventory. It involves tasks such as inventory planning, stock replenishment, cycle counting, demand forecasting, and inventory optimization to ensure adequate stock levels, minimize stockouts, reduce carrying costs, and optimize inventory turnover and availability to meet customer demand and operational requirements.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.