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...Unit introduction to inventory management learning objectives after completion of the you should be able explain meaning and types describe know factors affecting level also understand various techniques control modern traditional structure significance holding practice problems let s sum up key terms self assessment questions further readings model odisha state open university page a business can run smoothly its operating activities only when appropriate amount is maintained affects all like manufacturing warehousing sales etc opening closing sufficient enough so that other are not adversely affected thus plays an important role in operations asset owned by has express purpose being sold customer refers stock pile product firm offering for sale components make words used represent aggregate those items tangible assets which held ordinary course process production such currently consumed goods or services available may classified into three categories raw material supplies it unfinish...