Current events paper Essay Example | Topics and Well Written Essays - 500 words - 3

Current events paper - Essay ExampleManaging adequate levels of muniment is important to ascertain that the firms inventory balance does not hurt the cash position of a firm. In the retailing industry the merchandise in the shelves of the stores represent the inventory of the company. A way to reduce the damage of acquiring merchandise in the merchandising sector is by purchasing in bulk. Companies that purchase in bulk are able to achieve economies of scale. A way to reduce the risk of losing inventory due(p) to fires, natural disasters, or theft is by purchasing insurance for the inventory of a company.The article Your stocktaking is Your Cash Handle With Care (4 Cost-Cutting Tips) discusses the effect and importance of inventory for companies in the industry. Smart use of inventory is an important factor that motorbuss must consider. A lot of space, sales opportunities and cash are tied up on inventory. Storing adequate levels of inventory is important to achieve sales growt h. Smart use of inventory is brisk for them and also for you, if you keep and store any kind of goods or supplies in the operation of your business (Williams). four-spot strategies that must be used to manage inventory are frugality, cost tracking, inventory tracking, and sales monitoring. proper(a) management of inventory can increase the profitability and cash flow of a company. It is important to smirch the amount of slow selling products on inventory. Minimizing inventory saves warehouse space, prevents products from going bad, and it saves money. Tracking costs allows companies to rear appropriate price levels for its customers. Monitoring costs gives managers the ability to identify areas for improvement. Tracking inventory can do a company determine the proper reorder point of inventory items. Sales monitoring gives the manager the ability to determine the adequate sales level when demand changes.Inventory management has become a critical