What Is Inventory

•Invertory means goods you are

handling for the purpose of selling
for profit.
Examples:
•Raw material used in production
•Finished goods(items ready for
sale/distribution)
•Unfinished goods(goods which are
in-process)
•Stock of finished goods(to handle
escalation in customer demand)
•Spares of critical equipment to
ensure continuity of production.
 Management
•Management is a
coordination and
administration of tasks
to achieve a goal.
 Inventory Management
• Invertory management is
the management of
invertory and stock ,as an
element of supply chain
management, it includes
aspects such as
controlling and overseeing
order invertory,storage of
invertory,and controlling
the amount of product for
sale.
Objectives Of inventory management
•Five objectives of
invertory management.
•Preventing dead stock or
perishability.
•Reducing purchase cost
of goods.
•Optimizing storage cost.
•Enhancing cost flow.
•Maintaining cost flow.
 Types Of Inventory Management
•Three types of invertory
management.
•Bar-Code invertory
management.
•Periodic invertory
management.
•Continuous invertory
management.
 Process Of Inventory Management
•Six steps and process of invertory
management.
•Determining the loopholes.
•Analyzing consumer demand
and spending patterns
•Evaluating the cost involved.
•Identifying the extent of process
automation.
•Inspecting supplier's practices
and performance.
•Classifying inventories into
different categories.