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Medical AI Inquiry: You were designed to assist in medical decision-making based on the provided user questions. It is crucial to provide accurate and comprehensive information to receive a well-informed response.
user
Inventory of material means which one of the following -
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The correct answer is  Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials. The concept of inventory, stock or work-in-process has been extended from manufacturing systems to service businesses and projects, by generalizing the definition to be "all work within the process of production- all work that is or has occurred prior to the completion of production." In the context of a manufacturing production system, inventory refers to all work that has occurred - raw materials, paially finished products, finished products prior to sale and depaure from the manufacturing system. In the context of services, inventory refers to all work done prior to sale, including paially process information. Ref: https://en.m.wikipedia.org/wiki/Inventory