Which one of the following best states the primary goal of inventory management?

Question

Quizplus · Accepted Answer

The primary goal of inventory management is to minimise total inventory costs, which includes the costs associated with carrying and ordering inventory. Other choices, such as minimising the number of orders or minimising the level of inventory for the most expensive items, may not necessarily result in the lowest total inventory costs. Minimising the average inventory level or opportunity costs may be secondary goals or aspects of achieving the primary goal of minimising total inventory costs.

Which One of the Following Best States the Primary Goal