Which is the best definition of inventory management?
A) Inventory management involves overseeing the processes of ordering, storing, and using a business's inventory.
B) Inventory management involves overseeing the life cycle of a product from procuring raw materials through customer sales.
C) Inventory management involves testing products to ensure that they meet regulatory and corporate specifications.
D) Inventory management involves the research and testing of new products or potential changes to existing products.

Question

Quizplus · Accepted Answer

Inventory management primarily focuses on the processes related to ordering, storing, and utilizing the inventory of a business, ensuring that there is always an optimal level of stock available to meet demand without incurring unnecessary costs or losses.

Which Is the Best Definition of Inventory Management