Concept in Definition ABC

The Inventory It's that onerecord documentary of the goods and other objects belonging to a natural person, a company, a dependency public, among others, and that is made from great precision and neatness in the expression of the data.

Document in which the goods and belongings of a company, a public entity or a house are registered with the mission of organizing, ordering and having them formally registered

Although inventories are especially used at the behest of companies or public agencies, which, as we have already pointed out, They have goods and other products that belong to their assets, that is, in the commercial and state categories, inventories can be used in various contexts and situations when you want to order and record the items available in a place for a purpose determined.

For example, an individual who rents a furnished apartment will make an inventory of each item, furniture, appliances, and any other component. present in the apartment at the time of delivery for rent so that they are reliably registered and thus be able to keep track of what was left and When the time of the end of the rental contract is reached, check with that inventory that all the furniture and items that were inventoried are present and in the conditions corresponding.

In places like libraries it is also super necessary to carry out an inventory, since it offers us a detailed record of everything that exists in that place that would be inventoried.

Makes it easier to find things

It also makes it easier for us to find each item more quickly and easily because its disposition is listed in the inventory.

We must emphasize that the inventories are carried out in places that have many quantities of belongings and elements, and this is so because they are a very efficient tool when it comes to organizing many things, comparing and knowing when they come in, when they go out, the costs involved their income and expenses, among other issues.

In other words, the inventory provides us with order and organization, as well as allowing us to know what is available in a given place.

Also and as a consequence of the aforementioned situation, inventory is called the verification and count, both qualitative and quantitative of the physical stocks with the theoretical ones that were opportunely documented.

In the field of business management what inventory does is register all the assets owned and available to a company for sale to its customers and which are therefore considered as current active.

The goods that are plausible to be subject to inventory are destined for direct sale or for those activities destined internally to the productive process, such as raw materials, unfinished products, spare parts destined for maintenance, packaging materials, company goods, finished goods, partially finished goods, goods in transit and packaging materials, among others.

Inventory classes

There are a large number of types of inventories, among the most recurrent are: final inventories (takes place every time the fiscal period closes, usually on December 31), periodic inventories (it takes place every certain time), starting inventories (all the assets of the company are registered), legal clearance inventories, raw material inventory, safety, management inventory, physical inventory, among others.

Among the reasons that exist in companies to carry out an inventory we can cite: to reduce acquisition costs, to reduce costs of quality per startup, to reduce costs related to missing material and to reduce ordering costs.

Although, there are also many other reasons that make inventory a cumbersome, complex issue for the company in question such as: storage costs, difficulties in responding to customers, costs of coordinating its production, the costs of defective products when dealing with large batches and the costs associated with capacity reduction.

The incorporation of technology has made this task of inventorying companies, or other spaces, much easier, since there are specially developed software for such tasks, such as databases, which greatly facilitate this task, which was previously more cumbersome since it had to be done in writing and in books specials.

Inventory Items