______________________________ Track and Analyze the Movement of Materials and Products

question 6

Short Answer

______________________________ track and analyze the movement of materials and products to ensure the delivery of materials and finished goods at the right time, the right place, and the lowest cost.

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Definitions:

Merchandise Inventory

The total value of a company's goods that are available for sale, including raw materials, work-in-progress, and finished goods.

Cost Of Merchandise Sold

The total cost to a business of the goods sold to customers, including purchase price and additional expenses related to the sale.

Inventory Shrinkage

The loss of products between procurement and sale, often due to theft, damage, or administrative errors.

Losses Of Inventory

The reduction in the value of goods held for sale, due to theft, deterioration, or obsolescence.