Inventory management helps business identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage.
Operating
What Are the Classification of Business and Its Activities?
All business ultimately are a classification of one or both of two categories. These are industry and commerce. Industry relates to the creation of goods and services. Commerce relates to the act of trading goods and services.
3 Basic Types of Business Activities
Business Activities is any activity related to the purpose of making a profit. It is often divided into operating activities, investing activities and financing activities. Of these! The operating activities tend to be considered the most important as they have the most direct impact on a company’s performance.