A business’s inventory is usually their largest asset and is an important input in the budgeting process. Having a well organised and consistent inventory with a definite structure and predefined procedures for adding new products, handling the purchasing and sales processes and managing stock movements is vital. Nowadays inventory lists exist on multiple platforms or channels, each with different hierarchical definitions and so it becomes pertinent that all of these lists remain up to date and consistent across all platforms and channels. Merchandise Classification Merchandise classification is the hierarchical structure used to classify product data across the organisation by developing...