: Items used to support production and operations, such as tools or office supplies, which are not part of the final product. Essential Management Strategies
: Essential components or ingredients used to manufacture finished products. Essentials of Inventory Management
Effective inventory management balances the need to satisfy customer demand with the financial goal of minimizing holding costs. By viewing inventory as "money" on shelves, businesses can optimize their cash flow and operational stability. : Items used to support production and operations,
: Goods currently in the production phase but not yet completed. such as tools or office supplies
Most organizations manage four primary categories to maintain a smooth production and sales cycle:
: Completed products ready for sale to the end customer.