Question & Answer: The supply chain extends from needs identification to products delivery and includes…..

Supply chain has various functional areas and among them one of the most important is inventory control.It is related to how effectively inventory can be controlled by using various method so that supply chain can be effective.To respond more accurately to actual customer demand and keep inventory to a minimum, leading companies have adopted a number of speed-to-market management techniques. It is done through JIT, quick response (QR), efficient consumerresponse (ECR), vendor managed inventory (VMI), and more. When inventory management is proper operational cost can be controlled and managed.Invetory has big chunk of cost in supply-chain and if rational technique of inventory management is followed efficiency can be increased.