Inventory is any kind of resource that is stocked to satisfy the
present and future needs of any organization. Fred Hansman has
defined Inventory as "An idle resource of any kind provided such a
resource has economic value." Such resources may be classified into
three categories: physical resources such as raw materials,
semi-finished goods, finished goods, spare parts, lubricants etc,
human resources such as unused labour and finance resources such as
working capital etc. Inventory of resources is held to provide
desirable service to users and to achieve sales turnover target.
Though inventory of materials is an idle resource it is not meant
for immediate use, but it is almost essential to maintain some
inventories for the smooth and efficient functioning of an
enterprise. Investment in large inventories adversely affect an
organization's cash flow and working capital as investment in
inventory represents substantial portion of the total capital
investment in any business. Hence it is very much essential to
balance the advantage of having inventory of resources and the cost
of maintaining it so as to determine an optimal level of inventory
of each resource.
General
Imprint: |
Lap Lambert Academic Publishing
|
Country of origin: |
Germany |
Release date: |
July 2012 |
First published: |
July 2012 |
Authors: |
Neetu Sharma
|
Dimensions: |
229 x 152 x 10mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
168 |
ISBN-13: |
978-3-659-17342-4 |
Categories: |
Books >
Science & Mathematics >
Mathematics >
General
|
LSN: |
3-659-17342-8 |
Barcode: |
9783659173424 |
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