write about optimization in inventory management or inproduction planing . make the answer as long as u can please .
Expert Answer
Inventory optimization is a process of balancing capitalinvestment objectives and service level goals while managing alarge assortment of stock keeping units and keeping the volatilityof supply and demand into mind.
Every company faces the challenge of inventory management. Theamount of inventory a company carries affects its profitability toa large extent. Gone are the days, when the company makes use ofbinge and purge inventory cycle, where the company overpurchase theproduct to meet possible hike in demand and then discard theexcessive inventory.
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