Inventory management aids businesses in determining which merchandise to order when and in what quantities. Inventory is tracked from product acquisition to sale. In order to guarantee that there is always adequate inventory to fulfill client orders and proper warning of a shortfall, the technique recognizes trends and reacts to them. With reference to the above statements, develop various measures that can be adopted by an organization of your choice in terms of inventory management and demand to maximise profitability.

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Effective inventory management and demand forecasting are crucial for maximizing profitability in businesses Here are several measures that an organization can adopt in terms of inventory management a... View the full answer