Inventory Management
Inventory management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. It is the management of inventory and stock items, as well as controlling and overseeing ordering, storage, and use of components that a company uses in the production of the items it sells. In the maritime context, inventory management is crucial for ship operators to ensure that they have the necessary spare parts, equipment, and supplies on board to maintain the vessel's operational readiness and safety. Effective inventory management can help reduce downtime, minimize costs, and improve overall efficiency.
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