Efficient management is crucial to avoid production halts. Inventory control methods: Minimum inventory level, batch control, FIFO (First In, First Out), and JIT (Just In Time) each have their own ...

Just in time (JIT) inventory control systems occur when a business holds no stock and instead relies upon deliveries of raw materials and components to arrive exactly when they are needed.

Inventory turnover ratio of a company determines the frequency of sales happening at a company. The ratio also suggests how efficiently and quickly the management is able to convert its inventory ...