Operation Management Concept and Analysis

Concept and Analysis 
Goods are considered an asset to an organization. Out of the six categories of assets, It falls under the category of Current assets, which means a short-term life cycle. The inventory management system deals with the management of goods, stocks, and inventory. A good passes through many ages and processes from its inception of production until its consumption, i.e., from raw material to its recognition as the final product it passes through the various channel of flow. During this cycle, the management of the goods consumed shall retain their optimum quality is managed under the Inventory management.
 
Based on the industry, age of goods, and delivery time, inventory management is conducted. In the FMCG sector, an interest is sold as an individual product or in lots. From the factory where it is produced to the CNF (Carried and forwarding) to the wholesaler and lastly, to the retailer, the channel of the flow of goods is managed meticulously such that no interests should expire. Various teams are allotted at every necessary point of the inventory flow to check the correctness and quality of the flow. In the FMCG sector, the retail point has its maximum stock movements than any other points as from here only the last supply happens.