What are the main reasons that an organization has inventory? How does a person maintain inventory details? What is tedious and time consuming in tracking inventory? None are sold yet so how many tires should I record in my inventory: 200 or 150? If so, then i would appreciate it if you can help me? I would like to know how to compute the safety stock quantity? Do you have any formula for it? How can we calculate the depreciation for all assets and our organization’s inventory?įor the second question above, 200 tires are to be recorded as because none of the bikes are sold. Let me know any formula to keep the best inventory system in automobile spare parts. Though you have processed 2 Kg of chicken but you have not sold it. You should write 3 Kilo as your inventory. How to create an inventory without using a database?Ĭan the system stand without a database? how important is the database? And still it's on your cost, as long if it's not sold. Though you have assembled 50 tires but you have not sold it. You should record 200 tires as your inventory. Inventory management is the total quantity of finishing, raw, non finishing, material store and warehouse and the cost and total quantity of material.ĭescribe the meaning of the category of inventory and explain why it is critical to manage each element.
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