Answer the following questions: How do you manage the inventory for the goods you buy in your daily life? How do companies manage their inventories? Do they periodically review their inventory and place a replenishment order with their suppliers or do they continuously monitor their inventory and decide to place an order only when the inventory reaches a certain "low" value? Please share any examples you find with different inventory management strategies

Business Jul 12, 2020

Answer the following questions: How do you manage the inventory for the goods you buy in your daily life? How do companies manage their inventories? Do they periodically review their inventory and place a replenishment order with their suppliers or do they continuously monitor their inventory and decide to place an order only when the inventory reaches a certain "low" value? Please share any examples you find with different inventory management strategies.