A business's inventory is one of its major assets and represents an investment that is tied up until the item sells. MAXWELL's inventory management activities employed in maintaining the optimum number or amount of each inventory item.
The objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost.
Responsibilities of MAXWELL's Inventory includes,
- Evaluate Suppliers MAXWELL maintains a good working relationship with suppliers by communicating and dealing with concerns or problems, such as a delay in order being processed.
- Prepare Documentation Managing Inventory documentation also help our company avoid shrinkage due to loss or theft.
- Purchase New Inventory Our team must have a constant knowledge of what inventory is left and what is running low. In the event inventory is low, he or she must manage ordering more from the appropriate supplier and negotiate pricing and a timeline for delivery.
- Track Inventory Ensure your organization has the right amount of stock to meet customer needs and also to avoid overstocking items, which ties up cash and creates storage issues.