important Objectives of Inventory Controlcs executive cost and management accounting mcq objectice notes
Objectives of Inventory Control
Some of the basic objectives of inventory control are as follows:
• To provide continuous flow of required materials, parts and components for efficient and uninterrupted flow of production.
• To minimize investment in inventories keeping in view operating requirements.
• To provide for efficient store of materials so that inventories are protected from loss by fire and theft and handling time and cost are kept at a minimum.
• To keep surplus and obsolete items to minimum.