Manufacturing inventory is a detailed summary of the costs of material inputs and product outputs attributable to production processes. Raw materials are the parts you purchase to process or assemble ...

Storing inventory is costly to a business. It takes up storage space, must be insured, may be stolen or damaged, may become obsolete before it is sold and may require refrigeration or increase utility ...

Avoiding excessive inventory carrying costs requires maintaining accurate inventory records. One of the most efficient ways to maintain that accuracy is by ...