For any business, controlling and managing inventory assets is important for the company’s health.
For any business, controlling and managing inventory assets is important for the company’s health. All inventory has a cost and provides a value to the organization. In these lessons, we’ll explore the legitimate reasons for holding inventory. You’ll learn the definition of inventory and why it’s important to an organization. You’ll also discover how inventory can take many forms. We’ll discuss first in, first out (FIFO); last in, first out, (LIFO); and weighted average, and how they are tied to inventory.
Learning Objectives
- Learn basic inventory definitions
- Understand the concept of a stock keeping unit
- Discover how inventory types change as they go through the material flow
- Know the importance of inventory valuation techniques
- Understand the reasons for holding inventory
- Learn the different types of inventory demand
Transcript
The full transcript is available inside the lesson player once you start the course.
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