Select three of the seven inventory techniques listed above and explore why a business would implement each one.

Please respond to the following:Techniques of inventory management include:Economic order quantity.Just in time inventories.Optimum stocking level.Periodic inventory.Perpetual inventory.Barcoding.Point–of–sale systems.Select three of the seven inventory techniques listed above and explore why a business would implement each one.Be sure to list specific reasons for each.