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Inventory Control Methods: Supplies and Demand

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What is meant by the statement, "The real task of managing materials is matching supply to demand?"

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What is meant by this statement is that the expertise that one demonstrates in materials management can be gauged by how effective an individual is at continuously meeting demand over a period of time. In essence, it is very important to ensure that an organization has the materials that are needed in order to be able to supply consumers with the materials and or products that are in demand at a given point in time. This is a scientific management technique ...

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