A comprehensive guide to backorders, their causes, management strategies, and their impact on business operations.
A comprehensive overview of bin cards, essential tools in inventory management used to track receipts, issues, and balances of stock items.
An exploration of products that have been discontinued or represent the final stock available in their line.
Inventory Control (stock control) is a systematic approach to ensure that adequate but not excessive levels of stock are maintained by an organization, considering consumption levels, delivery lead times, reorder levels, and reorder quantities for each commodity.
Inventory Discrepancy refers to the differences that occur between the recorded inventory counts in accounting records and the actual physical counts of inventory available. This term is pertinent in fields such as inventory management, accounting, and logistics.
A comprehensive article detailing the Materials Returns Note, its historical context, types, key events, formulas, importance, applicability, examples, and more.
NEXT-IN-FIRST-OUT COST (NIFO cost) is a method of valuing units of raw material or finished goods issued from stock by using the next unit price at which a consignment will be received for pricing the issues.
A detailed exploration of physical stock checks, their importance, methods, and applications in inventory management.
Stock Control encompasses the strategies and processes used to manage inventory efficiently, ensuring adequate supply levels, reducing costs, and meeting customer demands.
A comprehensive overview of the process of counting and evaluating stock-in-trade, typically conducted at the year-end or throughout the year, to value the total stock for financial reporting and management purposes.
A detailed exploration of Stockkeeping Unit (SKU), its significance in inventory management, and its application in various industries.
Explore the concept of the Inventory Turnover Ratio, including its definition, calculation methods, importance, and implications for businesses in managing their stock of goods efficiently.
