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Inventory Management
Prepared by
“Inventory is goods consumed during the normal course of business, accounted for as a short-term asset. All firms of either manufacturing or services use some sort of inventory’’.
Derek L. Waller
Introduction:
Inventory defined as total number of stock, goods or materials contained in a store or factory at any given time. It is also defined as stored recourse that is used to satisfy current or future needs. Some time they are considered the most expensive assets of the company. Inventories are categorized in three different types as row martial, work in process and finished goods. Inventory management plays a crucial rule in monitoring and controlling the stock, and support the production plan and chain supply considering the balance of the level of the stock kept, as extra or ...