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What is Inventory Management? Definition, Types and Importance

TYA Suite

In this term, it mainly focuses on monitoring accurate sales records of manufacturing products to enable appropriate inventory needs of the business. Besides this, the inability for presenting accurate inventory plans and forecast sales has benefited from the application of the MRP procedure. It is a financial ratio.

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Lead Time – The Ultimate Guide!

Supply Chain Game Changer

In this guide, you’ll find everything you need to know about lead time and how to use it to optimize your order fulfillment. Lead time is the length of time it takes from when a purchase order is generated to when an item is delivered. Materials order time: The factory orders the raw materials it needs to produce your order.