Friday, August 3, 2018
9 Proven Tips to Control Your Inventory
9 Proven Tips to Control Your Inventory
The word inventory does not have similar meaning in the USA and in the UK:
- In American English and in a business accounting context, the word inventory is generally used to explain the goods and materials that a business holds for the ultimate purpose of resale (or repair). In American English, the word stock is usually used to express the capital invested in a business, while in British English, the sentence stock shared is used in same perspective.
- In the rest of the English speaking world stock is more generally used, though the word inventory is recognised as synonym. In British English, the word inventory is more generally thought of as a list of compiled for some formal purpose, such as the particulars of an estate going to probate, or the contents of a house let furnished.
Stock, in both British and American English, is the collective noun for one hundred shares as shares were usually traded in stocks on Stock Exchanges. For this basis the word stock is used by both American and British English in the term Stock Exchange.
Inventory stands for one of the most important assets that most businesses possess, since the turnover of inventory represents one of the main sources of revenue generation and subsequent earnings for companys shareholders/owners.
What is controlling inventory? Controlling inventory is the ongoing procedure of identifying and managing the constant flow of items into and out of an existing inventory. When you do not know accurately what inventory you have accessible, where it is located, or where it is for sale, it�s going to be complex to manage your inventory efficiently and can lead to an ever-increasing number of problem areas.