inventory management basics

Understanding Inventory Management

  Understanding Inventory Management Inventory management is a part of the supply chain management, which includes various aspects such as the process of ordering, storing and using the company’s inventory like raw materials, its components, and the finished products. It is also used for controlling the number of products for sale. It helps to manage…

FIFO Vs LIFO - Inventory Valuation Method

FIFO Vs LIFO – Which Is The Best Inventory Valuation Method?

Inventories are the largest current asset of any business. Inventory valuation is a process through which companies or businesses offer monetary value for their inventories and generate accurate financial statements. It is important to measure inventories for matching expenses and revenue figures and take good business decisions for a long-term. Ideally, there are two ways…