What is inventory management what is the purpose of keeping, Operation Management

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What is inventory management what is the purpose of keeping

Give short answers for the following questions:

i. What is Inventory Management?

ii. What is the purpose of keeping stocks in a supply chain?

iii. What is a reorder cost?

iv. Define the holding cost.

v. What does the procurement department do in a supply chain?

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Operation Management: What is inventory management what is the purpose of keeping

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