Which of the following is a function of inventory?
Answer & Explanation
D) All the above
All the above given statements are functions of Inventory.
Inventory or stock is the goods and materials that a business holds for the ultimate goal of resale. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods.
The primary function of inventory is to use marketing and production to increase profitability, to get the maximum amount for the business' investment. There are other functions of inventory, such as balancing supply and demand, improving efficiency, establishing a safety stock and geographical specialization.