Meaning of the word "inventory management" in English
What does "inventory management" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
inventory management
US /ˈɪnvənˌtɔːri ˈmænɪdʒmənt/
UK /ˈɪnvənˌtɔːri ˈmænɪdʒmənt/
Noun
1.
the process of overseeing and controlling the ordering, storage, and use of components that a company uses in the production of the items it sells, or the items themselves
Example:
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Effective inventory management is crucial for reducing costs and improving efficiency.
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The company implemented a new software system for better inventory management.
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