Beginning work-in-process inventory involves determining the value of products that are in production but that have not yet been completed at the end of an accounting period. Work in progress is not ...

FIFO (first in, first out) is the most common method of accounting for inventory. It assumes that the first items in were the first items sold. When inventory is used to create products, there is ...

Discover how inventory impacts working capital by examining its role as a current asset in a company's financials and why it ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t ...

Discover how Just-In-Time inventory boosts efficiency across industries like retail, tech, and manufacturing, minimizing ...

This article is based on my observations the last few years when I’ve been invited into factories looking for help to start (or too often restart) a continuous improvement (CI) strategy. The subject ...

Amidst the recent continued economic volatility, C-level executives’ focus has shifted from revenue growth to profitable growth, and hence global supply chain performance has gained a great deal of ...

Leave blank to obtain all parent departments assigned to DIR or DIR2 or enter one parent department. If you have more than one parent department, and field is left blank, all inventory items will be ...

All departments are required to perform a complete inventory of their capital equipment once per year. This process is an important control activity designed to safeguard the assets of the University.