- To minimise capital investment in inventory by eliminating excessive stocks;
- To ensure availability of needed inventory for uninterrupted production and for meeting consumer demand;
- To provide a scientific basis for planning of inventory needs;
- To tiding over the demand fluctuations by maintaining reasonable safety stock;
- To minimise risk of loss due to obsolescence, deterioration, etc.;
- To maintain necessary records for protecting against thefts, wastes leakages of inventories and to decide timely replenishment of stocks.
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