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Download as PDF; Printable version; In other projects ... Field inventory management; FIFO and LIFO accounting; Finished goods; ... Inventory turnover; Template ...
The check sheet is a form (document) used to collect data in real time at the location where the data is generated. The data it captures can be quantitative or qualitative. ...
Field inventory management, commonly known as inventory management, is the task of understanding the stock mix of a company and the handling of the different demands placed on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable ...
In materials management, ABC analysis is an inventory categorisation technique which divides inventory into three categories: 'A' items, with very tight control and accurate records, 'B' items, less tightly controlled and with moderate records, and 'C' items, with the simplest controls possible and minimal records.
While it is sometimes used interchangeably, inventory management and inventory control deal with different aspects of inventory. Inventory management is a broader term pertaining to the regulation of all inventory aspects, from what is already present in the warehouse to how the inventory arrived and where the product's final destination will be. [2]
Orlicky's 1975 book Material Requirements Planning has the subtitle The New Way of Life in Production and Inventory Management. [2] By 1975, MRP was implemented in 700 companies. This number had grown to about 8,000 by 1981. In 1983, Oliver Wight developed MRP into manufacturing resource planning (MRP II). [3]
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