Inventory

Defining Inventory Inventory is an idle stock of natural goods that transmit economic value, and are held in versatile forms by an disposal in its custody awaiting packing, processing, transformation, use or work in a incoming point of time. Any establishment which is into point of intersectionion, trading, cut-rate barters agreement and serving of a product will necessarily adopt stock of various carnal resources to aid in future consumption and bargain. While entrance is a necessary demonic of any such business, it whitethorn be noted that the geological formations thrust inventories for various reasons, which include defective purposes, functional purposes, physical necessities etc. From the to a higher bit definition the following points stand out with reference to storey: * All organizations engaged in production or sale of products hold neckcloth in one form or other. * Inventory can be in complete refer or incomplete state. * Inve ntory is held to facilitate future consumption, sale or further processing/value addition. * All inventoried resources determine economic value and can be considered as assets of the organization. varied Types of Inventory Inventory of materials occurs at various stages and departments of an organization.

A manufacturing organization holds inventory of raw materials and consumables required for production. It alike holds inventory of semi- blameless goods at various stages in the plant with various departments. consummate goods inventory is held at plant, FG Stores, distribution centers etc. Further both(prenominal) raw materials and finished goods those that are in transit at various locations also form a part of in! ventory dep baring upon who owns the inventory at the particular juncture. Finished goods inventory is held by the organization at various stocking points or with dealers and stockiest until it reaches the market and end customers. Besides new(a) materials and finished goods, organizations also hold inventories of spare move to service the products. Defective products, defective...If you want to get a salutary essay, browse it on our website: OrderEssay.net

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