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What are the different types of inventories maintained by a typical business entity? What is the significance of inventory regarding customer service levels? What are some of your experiences with inventories from the customer service perspective? How would you improve those inventories?
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Inventories, their Significance, and how to improve them
The three main inventory types maintained by any business include the raw material,
work-in-progress, and finished goods inventory. The raw material inventory manages those
goods that are to be processed into the finished products. The work-in-progress inventory
manages the unfinished p...
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