The Essential Guide to Inventory Management
Inventory represents one of the most important assets for a company because its turnover represents revenue for the company. In layman terms, u201cinventoryu201d stands for a complete list of goods owned or stored either to resell or as a raw material for producing the final product and then, in turn, sell the final product. However, to understand it in a more formal way, letu2019s look at some of the widely accepted standard definitions of inventory.
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