How is purchasing directly and indirectly involved in the control of a firm鈥檚 inventory investment?

Q1: How is purchasing directly and indirectly involved in the control of a firm鈥檚 inventory investment?

Q2: What are the benefits of calculating the total cost of ownership associated with carrying physical inventory?

I'm going to try Q2:

In small business ownership, it is always crucial to set one's budget carefully and forecast as accurately as possible. Calculating the costs that could be incurred for purchasing, shipping, storing, maintaining and displaying this inventory allows one to accurately predict and financially manage the total cost of ownership. Increased insurance costs alone can offset a small business owner's net income enough to pose a considerable risk. Making these calculations helps a small business owner set up staff levels, prices, business hours, advertising, distribution channels, and other important business functions at levels that will proactively manage his/her inventory tomaintain a positive income flow. Inability to do this can lead to unreliable budgeting and lost profits.

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