The Assemble-to-Order (ATO) manufacturing strategy involves maintaining a component inventory and assembling products upon receiving actual orders. This approach combines the benefits of make-to-stock and make-to-order strategies to provide efficiency and customization.
A method of costing a product based on a management philosophy that includes having the minimum levels of stock available; in these circumstances, the valuation of stocks becomes less important, making the complex use of absorption costing techniques unnecessary.
A comprehensive entry on Bar Code Readers, explaining their function, types, historical context, applications, and technology involved.
Comprehensive overview of clearance sales, including historical context, types, key events, detailed explanations, charts, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, quotes, proverbs, jargon, FAQs, references, and summary.
Commodity codes are essential tools for classifying direct materials and products in an organization to streamline recording and control systems.
A comprehensive guide to consignment stock, its definitions, types, historical context, key events, and practical applications in accounting and commerce.
Consumable materials are crucial elements in production processes that, although not directly forming part of the final product, facilitate the smooth and efficient operation of manufacturing systems.
Comprehensive guide to understanding the Cost of Goods Available for Sale, its calculations, significance, and applications in accounting and finance.
A detailed analysis of Cost of Goods Sold (COGS), including historical context, key events, mathematical formulas, importance, and applicability.
Cross-docking is a supply chain practice where products are unloaded from inbound vehicles and directly loaded onto outbound vehicles, minimizing the need for storage.
Cycle Counting is a method of continually counting portions of the inventory throughout the year to maintain accurate records. This technique enhances inventory management by ensuring up-to-date information on stock levels.
The insertion of information into a computerized system, which enables businesses to collect, store, and process data efficiently for various purposes such as inventory management, sales tracking, and reporting.
Days Inventory Outstanding (DIO) measures the average number of days a company holds inventory before selling it. It is a key performance indicator in inventory management and supply chain efficiency.
Days' Sales in Inventory (DSI) is a key financial metric used to measure the average number of days it takes for a company to sell its inventory. This article delves into its significance, calculation methods, implications, and related financial terms.
Financial products aimed at supporting retail dealers in managing inventory and operations.
Demand Planning involves predicting future customer demand to effectively manage supply chains, optimizing inventory levels, reducing costs, and improving customer satisfaction.
An in-depth examination of the contrasting elements across various fields including logistics, inventory management, and economic indicators.
Understanding the key role of direct materials inventory in manufacturing processes, from historical context to practical applications.
A comprehensive exploration of distribution centres, including their types, operations, historical context, significance, and related terms in logistics and supply chain management.
An in-depth exploration of distributors, their role in the supply chain, types, key events, and their importance in various industries.
A detailed examination of Economic Batch Quantity (EBQ), its importance in manufacturing and inventory management, and how it differs from Economic Order Quantity (EOQ).
Economic Order Quantity (EOQ) is a decision model used in inventory management to determine the optimal order size for purchasing or manufacturing items of stock, minimizing total ordering and holding costs.
An exploration of products that have been discontinued or represent the final stock available in their line.
Ending Inventory refers to the stock held at the end of a financial period. It appears on the profit and loss account in the calculation of cost of sales and on the balance sheet.
Understanding the Economic Order Quantity (EOQ) model, its significance, mathematical formulas, examples, and application in inventory management.
Facings refer to the number of visible products or packages facing outwards on a shelf, playing a critical role in retail display and inventory management.
Detailed explanation of the FIFO (First-In-First-Out) cost method, its history, application, key considerations, and related concepts.
Finished goods are products that have completed the manufacturing process and are ready for distribution to customers. This article explores their historical context, types, key events, detailed explanations, and much more.
A comprehensive guide to Finished Goods Stock in manufacturing, covering definitions, methods of valuation, importance, and examples.
A budget that expresses in both financial and quantitative terms the planned levels of finished goods at various times during the budget period.
An in-depth look into the First-In, First-Out (FIFO) accounting method used for inventory management and cost accounting.
Forward Logistics involves the processes and activities required to move goods from manufacturers to consumers. It plays a critical role in supply chain management.
An in-depth exploration of the Goods Issue Note (GIN), its historical context, categories, key components, applications, and significance in inventory management.
A comprehensive exploration of the Goods Receipt Note (GRN), including its definition, historical context, importance, types, examples, and related terms in the fields of Logistics, Supply Chain Management, and Accounting.
A comprehensive overview of Goods Received Notes (GRN) detailing their importance, historical context, types, key events, formulas, and applications in supply chain management.
Gross Margin Return on Inventory Investment (GMROI) is a key financial metric that evaluates the profitability of an entity's inventory by comparing the gross margin with the average inventory cost, providing insights into inventory efficiency.
An in-depth examination of holding costs, their calculation, types, significance, and impact on business operations.
An in-depth explanation of Holding Costs, a critical aspect of inventory management covering its definition, types, special considerations, and applications.
Comprehensive overview of housing inventory, its historical context, significance, types, key events, mathematical models, and much more.
Stocks of goods held by businesses, including materials awaiting use in production, goods in process, and finished products awaiting sale.
Inventory, also known as stock or stock-in-trade, encompasses the products or supplies that an organization has on hand or in transit at any given time. In manufacturing, inventory is categorized into raw materials, work in progress, and finished goods. A vital aspect of business operations, inventory impacts financial statements and overall profitability.
Detailed insights into Inventory Accounting, including historical context, types, key events, explanations, mathematical models, importance, examples, related terms, and more.
A detailed exploration into inventory adjustment, including its importance, types, methods, and relevance in various sectors such as finance, accounting, and management.
A comprehensive guide to understanding inventory costs, including types, calculations, examples, historical context, and their importance in business operations.
A comprehensive book or digital record containing detailed information about inventory transactions, including historical context, key events, types, mathematical models, importance, and applicability.
An in-depth look at Inventory Management Systems (IMS), covering their historical context, types, key events, detailed explanations, mathematical models, diagrams, importance, applicability, examples, considerations, related terms, comparisons, interesting facts, and more.
Software and technology solutions that facilitate the tracking and management of inventory using SKUs and other identifiers. It tracks inventory levels, orders, sales, and deliveries.
An in-depth analysis of inventory shrinkage, including its causes, types, historical context, key events, formulas, and mitigation strategies.
Inventory Turnover is a crucial ratio that measures the efficiency of inventory management by calculating the number of times stock is utilized or sold annually.
JIT, or Just In Time, is a strategy in inventory management that aims to minimize stock levels and reduce waste by receiving goods only as they are needed in the production process.
An in-depth exploration of Just-In-Time (JIT) techniques, their historical context, applications in various industries, key methodologies, importance, benefits, and challenges.
An in-depth examination of the Just-In-Time (JIT) production system, its historical evolution, applications, benefits, and challenges.
Just-in-Time (JIT) is an inventory management strategy that aligns orders with production schedules to increase efficiency by receiving goods only as they are needed.
An inventory and production strategy that reduces holding costs and increases efficiency by receiving goods only as they are needed and aligning raw-material orders with production schedules.
Just-in-Time (JIT) Inventory is an inventory management strategy that reduces dead stock by ordering goods only as they are needed, thereby increasing efficiency and decreasing waste.
Just-in-Time Manufacturing (JIT) is an inventory strategy designed to increase efficiency and reduce waste by receiving goods only as they are needed in the production process, thereby minimizing inventory costs.
An in-depth look at Just-In-Time (JIT) Manufacturing, a strategy focused on improving efficiency by receiving goods only as needed in the production process to minimize inventory costs.
Just-In-Time (JIT) Production is a strategy to increase manufacturing efficiency by receiving goods only as they are needed in the production process, thereby reducing inventory costs.
Just-In-Time (JIT) Production: A detailed strategy aimed at reducing flow times within production systems as well as response times from suppliers and to customers, closely aligned with the focused factory philosophy.
A detailed overview of the Last-In-First-Out (LIFO) cost method used for inventory valuation, including its historical context, applications, advantages, and disadvantages.
An overview of the LAST-IN, FIRST-OUT (LIFO) inventory accounting method and employment policy.
LIFO, or Last In, First Out, is an inventory valuation method where the most recently produced items are recorded as sold first. This approach impacts cost of goods sold and inventory balances.
A logistics company offers an extensive array of services, encompassing storage, inventory management, and supply chain solutions, aiding in the efficient movement of goods from origin to destination.
A Logistics Manager focuses on managing logistics operations including storage, inventory, and distribution to ensure efficient and smooth supply chain processes.
Markdowns refer to reductions in price, which can be part of a closeout sale but are also utilized in general discounting strategies to boost sales and manage inventory effectively.
Material control encompasses the management of materials needed for production, ensuring their availability at the right place and time, in the right quantities, and maintaining proper accounting while avoiding overstocking.
A materials requisition form is a crucial document in inventory management, allowing organizations to control the issuance of items from stores to specified uses. This document is used to credit stock and debit expenditure, containing essential details like descriptions, commodity codes, job numbers, or accounting codes.
MRP (Material Requirements Planning) is a systematic approach for calculating the materials and components needed to manufacture a product, ensuring efficient production processes and inventory management.
MTS (Make to Stock) refers to a production strategy in which items are produced based on forecasted demand to fill stock levels in anticipation of customer purchases.
Net Realizable Value (NRV) represents the estimated selling price of a product minus any further processing costs required to make the product saleable. It is a key concept in inventory management, accounting, and financial analysis.
Number of Days' Stock Held is a key ratio that measures the average number of days a company holds inventory. This metric provides insights into inventory management efficiency.
An in-depth analysis of obsolescence, its types, historical context, impact on depreciation, inventories, and financial implications.
Opening Inventory refers to the stock on hand at the beginning of an accounting period.
Understanding the role of opening stock in financial accounting and inventory management.
A comprehensive look at the Operating Cycle, detailing its phases, importance, mathematical formulas, real-world examples, related terms, historical context, and more.
Operational Research involves using mathematical and statistical methods to solve practical business problems. Techniques include linear programming, critical path analysis, and queuing and inventory analysis, applied across finance, purchasing, production, marketing, delivery systems, and inventory control.
A comprehensive guide to understanding order costs, their components, significance in inventory management, and examples.
Ordering costs are the expenses associated with the processes of placing and receiving orders, including administrative and transportation costs. This article explores the concept in detail, its types, importance, and implications in business and economics.
An in-depth look into perishability, the quality of a product being susceptible to spoilage. This article explores its historical context, types, key events, detailed explanations, and more.
A comprehensive exploration of the Rate of Turnover, its types, calculations, significance, and related concepts in organizational asset management.
An in-depth exploration of raw materials inventory, from its definition and historical context to its importance in modern supply chains, types, key considerations, and related terms.
Comprehensive Guide on Reorder Level - its importance in inventory management, historical context, types, key events, detailed explanations, formulas, examples, and related terms.
Retail Barcode: Definition, Historical Context, Types, Key Events, Explanations, Applications, and More
An in-depth look at 'Returns Inwards' or sales returns, where customers return goods to the organization due to dissatisfaction.
Returns Outwards refers to goods that are returned by an organization to its suppliers due to their unsatisfactory condition or other reasons.
A comprehensive guide to the Sale or Return terms of trade, including definitions, types, historical context, examples, related terms, and more.
A comprehensive guide to Supply Chain Management (SCM), covering its historical context, types, key events, detailed explanations, models, diagrams, importance, applicability, examples, related terms, and more.
The Sell-Through Rate is a critical metric in retail and inventory management, representing the percentage of items sold from the total distributed stock.
An in-depth guide to the practice of efficiently using available shelf space in retail environments to enhance sales and customer experience.
A comprehensive coverage on SIN, an abbreviation for Stores Issue Note, including its role, historical context, importance, and examples.
An in-depth look at Stock Keeping Units (SKUs), their importance in inventory management, and their applications in various industries.
Detailed guide on stock budgets, their importance, types, key events, formulas, examples, and applications in budgetary control.
An in-depth exploration of stock reconciliation, including its processes, importance, methodologies, and applications in various sectors.
An in-depth examination of stock turnover, a critical metric in inventory management.
Stock Verification is the physical checking of inventory, complementing the Inventory Certificate by confirming through actual inspection the quantities recorded.
A comprehensive guide to understanding stockouts, their causes, impacts, and management strategies in inventory systems.
An in-depth look at Stockout Costs, the costs incurred when inventory runs out and customer demand cannot be met.
In-depth exploration of stockouts, their causes, effects on production and sales, and solutions to prevent inventory shortages.
Stockpiling refers to the accumulation of physical items, often in preparation for future shortages or price escalations. This practice is common in various industries and households, particularly during times of uncertainty.
Stores oncost refers to the indirect costs associated with handling, storing, and managing inventory. These costs are essential for understanding overall operational expenses in inventory management.
