Meaning of Inventory Let's notice out, What is inventory? Inventory is the stock of goods held for doing business . It is unremarkably required to bear on the concern together with its allied activities. Important points roofing the important of inventory is depicted below. production process. Work inwards progress (WIP). For example, semi-finished goods. Captive consumable goods are goods produced together with used past times producer. Finished goods which are available for sale. Inventory besides includes investment made inwards raw-materials together with their parts inwards accordance amongst the inventory policy established past times the management . Definition of Inventory Inventory tin live on defined inwards many ways w.r.t unlike prespectives. Following selected statements volition assistance yous to larn a wide agreement of its concept. demand together with furnish inwards the market together with tin live on easily realized inwards cash ....

What is Inventory Control? Definition 1. According to Gordon Carson , " Inventory command is the physical care for where past times the investment inwards materials together with parts carried inwards stocks is regulated, inside pre-determined limits railroad train inwards accordance amongst the inventory policy established past times the management ." This definition of inventory command is taken from a mass titled ' Production Handbook ' published inwards 1958 together with edited past times Gordon B. Carson. Definitions of inventory command w.r.t dissimilar perspectives are quoted below. level of management of a company. It requires a strategic conclusion to live on taken for its effective implementation. Its proper implementation is the responsibleness of the shop manager." 4. In an Academic perspective, "Inventory command is a method to position those stocks of goods, which tin live on used for the production of finished goods. It shall live on su...