The quick answer to this question is yes, inventory is a current asset. Inventory is composed of the products used in the manufacturing of the final product. Why then...
Every manufacturing company follows three primary phases in the manufacturing process. First, there is the sourcing of requisite raw materials from suppliers. Naturally, the second step uses these raw...
Any business owner will tell you that effective inventory management is the lifeline of any business. A company has to find an optimal balance between too much inventory that...
The Periodic Inventory System is an inventory management tool where a physical count of available inventory is conducted on a periodic/scheduled basis. It allows businesses to account for their...
For any company to operate optimally, it is important to have an accurate valuation of its inventory. Inventory valuation has the potential to impact numerous business aspects such as...
Whether you run a multinational or a micro-enterprise, you agree with me that a healthy inventory is a crucial ingredient of business success. Management of costs, sales, or even...
One of the crucial elements of running any business is how effectively one can monitor its inventory. Over the years, numerous tools and ratios have come up to assist...
What is Inventory Forecasting? You must surely know the story of Goldilocks and the Three Bears? Wait, what has this got to do with inventory forecasting? The Goldilocks Principle...
Not Another List of Inventory Management Techniques! I want to start by saying that this is not an exhaustive list of all the possible inventory management techniques available for...
After consulting trading & distribution companies for years, I realised that some companies track nothing or everything. Both is equally deadly. Needless to say, not tracking is doing business...