Discover everything you need to know about Average Age of Inventory, a key metric for evaluating inventory efficiency!
A calculation that estimates the value or number of a particular good or set of goods during specific time periods.
A backorder is an order for a good or service that cannot be filled at the current time due to a lack of available supply.
A financial ratio illustrating how efficiently a company turns its inventory into sales.
The ideal quantity a company should purchase to meet demand while minimizing inventory costs.
The accounting method where the oldest inventory is sold first, leaving the freshest items behind, just like how we finish the last slice of pizza!
It's not just a stock guarantee; it's a double play in finances!
A humorous look at inventory accounting with the Highest In, First Out (HIFO) method.
Holding Costs: Understanding the Costs of Inventory Storage
The inventory turnover ratio is a financial metric that shows how often a company's inventory is sold and replaced over a period.
Just in Case (JIC) is an inventory strategy where companies keep large inventories to reduce sold-out situations.
A managerial strategy for efficiently managing inventory
Kanban is an inventory control system used in just-in-time manufacturing for tracking production.
Understanding the LIFO Inventory Accounting Method
Understand the concept of LIFO Liquidation - when a company sells its newest inventory first!
Make to Stock (MTS) is a production strategy aligning inventory with expected consumer demand.
Understanding MRP: The Beat Behind Inventory Management
Next In, First Out (NIFO) is a quirky method of inventory valuation where the latest replacement costs shuffle into the spotlight instead of the original costs standing center stage.
Obsolete Inventory: The Undead Stock of Your Warehouse!
An innovative approach to real-time inventory tracking!
An exploration of the loss of inventory and its impact on business profitability.
A scannable code to help vendors track inventory.
A humorous take on the two-bin inventory control system, where there’s always room for a laugh — and stock!
