All of these are elements of inventory holding costs. They must be managed in order to ensure that the inventory is managed in an efficient and cost effective manner. Inventory holding costs refer to the costs which is associated with storing or carrying of inventory.
These include material handling costs, pilferage of material, scrap and obsolescence, housing costs, and investment costs. Material handling costs include the costs of receiving, storing, and transporting inventory. Pilferage, scrap and obsolescence refer to the costs associated with losses due to theft, spoilage, and inventory becoming outdated respectively.
Housing costs refer to the costs which is associated with storing of inventory such as rent, utilities, or taxes. And finally, investment costs refer to the costs associated with the capital that is tied up in the inventory.
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