Managing Inventories
National retailers, such as Wal-Mart and Target, stock an amazing variety of products in every store: clothing, food, hardware, electronics, and even garden supplies. As if that’s not enough, many items are packaged and sold in a bewildering array of sizes and configurations. Do you want the single serving, the economy size, the family pack, or the bulk case? Are you looking for two batteries, a bubble pack of four or eight, or a contractor’s box with three dozen? Do you want a travel size of toothpaste, a medium tube, or the economy three-pack?
Keeping track of so many products is difficult but essential. Retailers carry products in so many sizes and styles because that’s what shoppers want. If shoppers everywhere had the ...
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