Inventory means the number of products that a company has available for sale.
Also, this definition includes the number of raw materials that a company has available to make their products.
Therefore, Inventory includes all available items, goods, merchandise, and materials held by a business on-hand for selling in the market to earn a profit.
Sometimes it is represented in terms of money since involves a huge amount of business assets on-hands in a warehouse or storage.
Some people see their warehouse as their “bank” in which they have their money locked until the products are sold.
Inventory levels impact the business economy because the turnover of the products represents one of the primary sources of revenue generation and subsequent earnings for the company’s shareholders.
For more information about what is inventory and the 8 types of production inventory, press here.
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REFERENCES: How to handle the manufacturing inventory.