Explain how an organization ensures that the regular quantities and quality of goods (inventory) and services are purchased.

Additional Requirement

The question lies to Operations Management and it is about how to ensure regular quantities and quality of goods and services are purchased by an organization. This is an important question because of the fact that it highlights the forecasting by organization. An organization which can rightly forecast its sales beforehand, taking into account various economics an, socio political and environmental or demographic factors, it would need to maintain optimum inventory levels.

Word limit 400