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Hello, I welcome you all to this presentation related to the subject Principles of Industrial Engineering and we are talking about the inventory. Inventory is maintained in the organizations whether they are manufacturing or in the service sector, inventory is maintained so that they can provide the items as and when they are required and wherever they are required in the quantity as
per the requirement. Now, this helps in reducing the cost, the total cost at which the item can be produced, this reduces the possibility of the stock out situation, it helps to smoothen the production, so there is a number of the secondary benefits.