The objective of inventory management is to minimize the cost of holding inventory. Group startsTrue or FalseTrue, unselectedFalse, unselected

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26-04-2022
Business

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The objective of inventory management is to minimize the cost of holding inventory. Group startsTrue or FalseTrue, unselectedFalse, unselected

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jayilych4real jayilych4real · Answer 1 · 2022-05-09T10:20:21+02:00

The given statement that states that the objective of inventory management is to minimize the cost of holding inventory is true/.

What is Inventory?

This refers to the "taking of stock " of goods in a given warehouse by writing out the necessary information in an accounting book.

Hence, we can see that as a result of this action, inventory management is set up to reduce the cost of the holding inventory by having an effective system in place to track the goods.