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It is also defined as stored recourse that is used to satisfy current or future needs. Some time they are considered the most expensive assets of the company. Inventories are categorized in three different types as row martial, work in process and finished goods. Inventory management plays a crucial rule in monitoring and controlling the stock, and support the production plan and chain supply considering the balance of the level of the stock kept, as extra or less of it is incur cost of money, time, and value. Inventory is very imported for company’s financial position and reputation if it is properly controlled for the following reasons:
1- Associated cost with holding stock can be reduced...
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