Business Management Chapter 5.6 Production Planning
New 2023-2024 Chapter 5.6
One of the key aims of production planning is to minimize the costs of holding stock/inventory while ensuring that there are sufficient resources for production to be able to meet customer demand in a timely manner. This chapter looks at the different types of stock control methods and their relative merits, and examines the need for businesses to recognize and establish their optimum stock levels in order to remain competitive.
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