INVENTORY:

Inventory is defined as a stock or store of goods. In inventory the goods

are maintained in the warehouse, so that the firm can meet demand and supply
of materials.
Inventory systems are technology solutions that integrate all aspects of
an organization's inventory tasks, including shipping, purchasing, receiving,
warehouse storage, and turnover, tracking, and reordering.

VARIOUS TYPE OF INVENTORY:

1. Raw material
2. Work in progress
3. Finished goods
4. Transit inventory
5. Safety inventory
1. Raw material:

In VIP clothing limited, fabric is the raw material which is purchased from the
supplier.
Raw material is inventory items that are used in the manufacturer’s process to
produce or finished product.

2. Work in progress:

In VIP clothing limited, in work in progress

I. Lab testing:
In lab testing process the quality of the fabric is checked out, the
damaged fabric is eliminated.
II. Stitching:
During stitching process, over locking and back locking

3. Finished goods:

A finished good is a completed part that is ready for a customer order.

Therefore finished goods inventory is the stock of completed products. These
goods have been inspected and have passed final inspection requirements so
that they can be transferred out of work- in- process and into finished goods
inventory.
4. Transit inventory:

Transit inventories result from the need to transport items or material from one
location to another, and from the fact that there is some transportation time
involved in getting from one location to another.

5. Safety Inventory:
Textile manufacturing company so there could not be much safety inventory
stocks .so they maintain very low safety inventory based on the demand only
they maintain stocks during the festival time .There occurs many demand so
they have some safety stocks. Because at that time of huge demand the
container and less it couldn’t satisfy the demand of customer so they maintain
safety stock.