Inventory

inventoriesstockstock in tradestocksinventoriedinventory managementcycle stocksdeath inventorydistressdistressed
Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair).wikipedia
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Business

for-profitenterprisefirm
Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair).
Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire employees. A sole proprietor has unlimited liability for all obligations incurred by the business, whether from operating costs or judgments against the business. All assets of the business belong to a sole proprietor, including, for example, computer infrastructure, any inventory, manufacturing equipment, or retail fixtures, as well as any real property owned by the sole proprietor.

ABC analysis

It also may include ABC analysis, lot tracking, cycle counting support, etc. Management of the inventories, with the primary objective of determining/controlling stock levels within the physical distribution system, functions to balance the need for product availability against the need for minimizing stock holding and handling costs.
In materials management, the ABC analysis (or Selective Inventory Control) is an inventory categorization technique.

Inventory valuation

1) Cost of Beginning Inventory at the start of the period + inventory purchases within the period + cost of production within the period = cost of goods available
An inventory valuation allows a company to provide a monetary value for items that make up their inventory.

Petrolsoft Corporation

This application for motor fuel was first developed and implemented by Petrolsoft Corporation in 1990 for Chevron Products Company.
The software solution to this problem became Petrolsoft's initial product, based on inventory proportionality.

Finished good

finished goodsgoodsfinished products
Finished goods – goods ready for sale to customers.
Manufacturing has three classes of inventory:

Retail

retailerretail storeshop
Retailers' inventory may exist in a warehouse or in a shop or store accessible to customers.
Constant advances in product design resulting in constant threat of product obsolescence and price declines for existing inventory; and

FIFO and LIFO accounting

FIFOfirst in first outfirst-in-first-out
FIFO and LIFO.
FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feed stocks.

Lower of cost or market

Lower of cost or market
Lower of cost or market (LCM or LOCOM) is a conservative approach to valuing and reporting inventory.

Ending inventory

2) Cost of goods available − cost of ending inventory at the end of the period = cost of goods sold
Ending inventory is the amount of inventory a company has in stock at the end of its fiscal year.

Purchasing

purchaseacquisitionpurchases
1) Cost of Beginning Inventory at the start of the period + inventory purchases within the period + cost of production within the period = cost of goods available
This value was manifested in lower inventories, less personnel, and getting the end product to the consumer quicker.

Carrying cost

holding cost
Holding Cost
In marketing, carrying cost, carrying cost of inventory or holding cost refers to the total cost of holding inventory.

Asset

assetstotal assetstangible asset
An organization's inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection.
Current assets include inventory, while fixed assets include such items as buildings and equipment.

Theory of constraints

constraintsDrum-buffer-ropefive focusing steps
A discussion of inventory from standard and Theory of Constraints-based (throughput) cost accounting perspective follows some examples and a discussion of inventory from a financial accounting perspective.
The goal of a commercial organization is: "Make more money now and in the future", and its measurements are given by throughput accounting as: throughput, inventory, and operating expenses.

Warehouse

warehousingwarehousesgodown
Manufacturers', distributors', and wholesalers' inventory tends to cluster in warehouses.
Logistics personnel use the WMS to improve warehouse efficiency by directing pathways and to maintain accurate inventory by recording warehouse transactions.

Balance sheet

statement of financial positionbalance sheetsbalance-sheet
An organization's inventory can appear a mixed blessing, since it counts as an asset on the balance sheet, but it also ties up money that could serve for other purposes and requires additional expense for its protection.
A small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt.

Cost of goods sold

production costproduction costsCOGS
2) Cost of goods available − cost of ending inventory at the end of the period = cost of goods sold
Inventory

Working capital

capitalWorking capital analysiscapitalized
This effort, known as "Lean production" will significantly reduce working capital tied up in inventory and reduce manufacturing costs (See the Toyota Production System).
inventory (current assets), and

Current asset

current assetscurrentfloating asset
Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations hold larger inventories than their operations require in order to inflate their apparent asset value and their perceived profitability.
Typical current assets include cash, cash equivalents, short-term investments (marketable securities), accounts receivable, stock inventory, supplies, and the portion of prepaid liabilities, sometimes referred to as prepaid expenses, which will be paid within a year.

Average cost method

accounting on average cost basisAverage-cost methodPeriod Moving Average Cost
Weighted Average Cost
Inventory

Inventory management software

inventory managementinventory management systemsCloud Inventory & Order Management
Inventory management software
Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries.

Throughput (business)

throughputproduction ratethrough-put
He offers a substitute, called throughput accounting, that uses throughput (money for goods sold to customers) in place of output (goods produced that may sell or may boost inventory) and considers labor as a fixed rather than as a variable cost.
Output that becomes part of the inventory in a warehouse may mislead investors or others about the organizations condition by inflating the apparent value of its assets.

Inventory investment

inventory cycleInventory investment over the business cycleinvestments in inventories
Some short-term macroeconomic fluctuations are attributed to the inventory cycle.
Thus, if production per unit time exceeds sales per unit time, then inventory investment per unit time is positive; as a result, at the end of that period of time the stock of inventories on hand will be greater than it was at the beginning.

Throughput accounting

throughput
He offers a substitute, called throughput accounting, that uses throughput (money for goods sold to customers) in place of output (goods produced that may sell or may boost inventory) and considers labor as a fixed rather than as a variable cost.
Throughput Accounting improves profit performance with better management decisions by using measurements that more closely reflect the effect of decisions on three critical monetary variables (throughput, investment (AKA inventory), and operating expense — defined below).

Consignment stock

consignment
Consignment stock
To account for a replenishment of consignment stock at a customer site, a manufacturer must credit inventory and debit customer consignment stock.