Inventory analysis

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Inventory analysis is the process of understanding the stock/product mix combined with the knowledge of the demand for stock/product. It is the technique to determine the optimum level of inventory for a firm. [1] [2]

In marketing, a product is an object or system made available for consumer use; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded to as a type of product.

Computing inventory balances

Average cost method

Under the 'Average Cost Method', it is assumed that the cost of inventory is based on the average cost of the goods available for sale during the period.

FIFO and LIFO accounting advantage

FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feed stocks. They are used to manage assumptions of costs related to inventory, stock repurchases, and various other accounting purposes.

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Fundamental analysis analysis of a businesss financial statements

Fundamental analysis, in accounting and finance, is the analysis of a business's financial statements ; health; and competitors and markets. It also considers the overall state of the economy and factors including interest rates, production, earnings, employment, GDP, housing, manufacturing and management. There are two basic approaches that can be used: bottom up analysis and top down analysis. These terms are used to distinguish such analysis from other types of investment analysis, such as quantitative and technical.

Inventory goods held for resale

Inventory or stock is the goods and materials that a business holds for the ultimate goal of resale.

Point of sale time and place where a retail transaction is completed

The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but is increasingly being dispensed with or sent electronically.

<i>Kanban</i> scheduling system / stock replenishment

Kanban (看板) is a scheduling system for lean manufacturing and just-in-time manufacturing (JIT). Taiichi Ohno, an industrial engineer at Toyota, developed kanban to improve manufacturing efficiency. Kanban is one method to achieve JIT. The system takes its name from the cards that track production within a factory. For many in the automotive sector, kanban is known as the "Toyota nameplate system" and as such the term is not used by some other automakers.

Bombay Stock Exchange stock exchange in Mumbai, India

The Bombay Stock Exchange (BSE) is an Indian stock exchange located at Dalal Street, Mumbai.

Life-cycle assessment is a technique to assess environmental impacts associated with all the stages of a product's life from raw material extraction through materials processing, manufacture, distribution, use, repair and maintenance, and disposal or recycling. Designers use this process to help critique their products. LCAs can help avoid a narrow outlook on environmental concerns by:

Jamba Juice

Jamba, Inc. and its wholly owned subsidiary Jamba Juice Company oversee an American restaurant chain headquartered in Frisco, Texas, and previously headquartered in Emeryville, California. The company has over 875 locations operating in 26 U.S. states, as well as the Philippines, Mexico, Taiwan, South Korea, Thailand and the United Arab Emirates. There are approximately 68 company-owned locations and 752 franchise-operated stores in the United States, in addition to the 65 international stores.

Fastenal Company is an American company based in Winona, Minnesota. Distributing goods used by other businesses, it has over 2,600 branches throughout the US, Canada, Mexico and Europe along with 13 distribution centers. Fastenal resells industrial, safety, and construction supplies and offers services including inventory management, manufacturing, and tool repair. Fastenal refers to itself as an industrial supply company, and Reuters calls it an industrial distributor.

Reverse logistics is for all operations related to the reuse of products and materials. It is "the process of moving goods from their typical final destination for the purpose of capturing value, or proper disposal. Remanufacturing and refurbishing activities also may be included in the definition of reverse logistics." Growing green concerns and advancement of green supply chain management concepts and practices make it all the more relevant. The number of publications on the topic of reverse logistics have increased significantly over the past two decades. The first use of the term "reverse logistics" in a publication was by James R. Stock in a White Paper titled "Reverse Logistics," published by the Council of Logistics Management in 1992. The concept was further refined in subsequent publications by Stock (1998) in another Council of Logistics Management book, titled Development and Implementation of Reverse Logistics Programs, and by Rogers and Tibben-Lembke (1999) in a book published by the Reverse Logistics Association titled Going Backwards: Reverse Logistics Trends and Practices. The reverse logistics process includes the management and the sale of surplus as well as returned equipment and machines from the hardware leasing business. Normally, logistics deal with events that bring the product towards the customer. In the case of reverse logistics, the resource goes at least one step back in the supply chain. For instance, goods move from the customer to the distributor or to the manufacturer.

Woot

Woot is an American Internet retailer based in the Dallas suburb of Carrollton, Texas. Founded by electronics wholesaler Matt Rutledge, it debuted on July 12, 2004. Woot's main website generally offers only one discounted product each day, often a piece of computer hardware or an electronic gadget. Other Woot sites offer daily deals for T-shirts, wine, children's items, household goods; two other sites offer various items. On June 30, 2010, Woot announced an agreement to be acquired by Amazon.

Minibar small refrigerator in luxury hotel rooms

A minibar is a small refrigerator, typically an absorption refrigerator, in a luxury hotel room or cruise ship stateroom. The hotel staff fill it with drinks and snacks for the guest to purchase during their stay. It is stocked with a precise inventory of goods, with a price list. The guest is charged for goods consumed when checking out of the hotel. Some newer minibars use infrared or other automated methods of recording purchases. These detect the removal of an item, and charge the guest's credit card right away, even if the item is not consumed. This is done to prevent loss of product, theft and lost revenue.

Safety stock is a term used by logisticians to describe a level of extra stock that is maintained to mitigate risk of stockouts caused by uncertainties in supply and demand. Adequate safety stock levels permit business operations to proceed according to their plans. Safety stock is held when uncertainty exists in demand, supply, or manufacturing yield, and serves as an insurance against stockouts.

Scan-based trading (SBT) is the process where suppliers maintain ownership of inventory within retailers' warehouses or stores until items are scanned at the point of sale.

Stockout

A stockout, or out-of-stock (OOS) event is an event that causes inventory to be exhausted. While out-of-stocks can occur along the entire supply chain, the most visible kind are retail out-of-stocks in the fast-moving consumer goods industry. Stockouts are the opposite of overstocks, where too much inventory is retained.

Overstock, excessive stock, excess2sell, B-stock, or excess inventory, is the result of poor management of stock demand or of material flow in process management. Excessive stock is also associated with loss of revenue owing to additional capital bound with the purchase or simply storage space taken. Excessive stock can result from over delivery from a supplier or from poor ordering and management of stock by a buyer for the stock.

In marketing, carrying cost, carrying cost of inventory or holding cost refers to the total cost of holding inventory. This includes warehousing costs such as rent, utilities and salaries, financial costs such as opportunity cost, and inventory costs related to perishability, shrinkage (leakage) and insurance. Carrying cost also includes the opportunity cost of reduced responsiveness to customers' changing requirements, slowed introduction of improved items, and the inventory's value and direct expenses, since that money could be used for other purposes. When there are no transaction costs for shipment, carrying costs are minimized when no excess inventory is held at all, as in a Just In Time production system.

Quartzy

Quartzy is an online lab management platform and scientific research supply marketplace. It is a startup company based in Hayward, Calif. Quartzy features include collaborative order requests and supply tracking for labs and research groups, inventory management tools, and product quotes for price comparisons. Quartzy is used by more than 200,000 scientists worldwide.

Inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets.

Inventory optimization is a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.

Alphabet Inc. American holding company and conglomerate created by Google

Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a corporate restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. The two founders of Google assumed executive roles in the new company, with Larry Page serving as CEO and Sergey Brin as president.

References

  1. "What is inventory analysis? definition and meaning". BusinessDictionary.com. Retrieved 2017-05-05.
  2. "What is inventory analysis? - Questions & Answers - AccountingTools". www.accountingtools.com. Retrieved 2017-05-05.