Question:

Why is inventory important for a business?

by Praise  |  8 years, 10 month(s) ago

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Business

 Tags: business, inventory

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  1. Praise

     Inventory represents a portion of the business's assets and it is important to the business as it ensures maximized potential sales and market share. There has to be a balance of how much inventory that should be held to avoid incurring spoilage and excess storage costs. A good inventory management strategy involves negotiating the lowest possible costs with suppliers and satisfying customer demand.

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