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Deliverable D4.1 An Inventory of management questions to be addressed with the tools Due date of deliverable: July 2010 Actual submission date: October 2012 Resubmitted: November 2013Coordinator:
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Inventory management and tracking is the process of overseeing and controlling a company's inventory levels, orders, sales, and deliveries to ensure that the right amount of stock is available at the right time.
Businesses that manage physical inventory and are subject to regulatory requirements or specific industry standards are typically required to file inventory management and tracking.
To fill out inventory management and tracking, gather all relevant data on inventory levels, purchases, sales, and stock movements, and enter this information into the required forms or software systems according to the specified guidelines.
The purpose of inventory management and tracking is to maintain optimal inventory levels, reduce holding costs, prevent stockouts, and improve overall operational efficiency in a business.
Information that must be reported includes item descriptions, quantities on hand, reorder levels, purchase orders, sales figures, and other relevant inventory data.
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