Inventory Cost is the total cost associated with the acquisition, storage, and management of inventory items. It includes the cost of purchasing the items, the cost of storing them, and the cost of managing them. Inventory cost also includes the cost of any associated taxes, duties, and fees. Inventory cost is an important factor in maintenance operations and management, as it can have a significant impact on the overall cost of maintaining equipment and facilities. Inventory cost can be managed by optimizing inventory levels, reducing storage costs, and improving inventory management processes.
