What's it: An inventory is a list of all the items that a company maintains as production inputs and items to fulfill sales. They include raw materials, work in progress, and finished goods.They are essential for two reasons. First, by converting
Operations Management
Specialization: Definition, Importance, How it Works, Pros, Cons
What's it: Specialization means focusing on a specific aspect of something bigger. It can be related to a product, task, job, or skill. For example, when a company specializes in a particular product, it focuses on a few goods rather than