The Inventory List
Inventory is the goods and products held in stock by a business. Store and business owners need to know the precise number of items available in storage (in inventory) at any given time, so they could place orders and control losses .Usually inventory is held in order to have products available in case there is a delay in supply from the supplier or manufacture. An Inventory list is simply the list of items in inventory. Households can also use inventory lists – a good example is a list that keeps track of all the belongings when moving to a new home.
The Term ‘inventory’ can refer to the total amount of goods and products in storage or to the act of counting those goods. Companies usually take inventory of their supplies on a regular basis in order to avoid running out of wanted items. The Inventory list can be produced every quarter in order to generate tax and financial reports, but typically the main point of inventory lists for companies is to meet current orders without shortage.
another term important for understanding inventory lists is ‘time lag’. As we said, time lags in the supply chain, from the supplier to the store, are one of the main reasons inventory lists should be held.
A typical supply chain starts from stores requesting stock to the head office, they issues purchases orders to vendors, who then ship products to a warehouse, who distribute goods to the stores, which sell the products to the end users.
Generally speaking, holding a high amount of inventory for long periods of time is not a good thing for a company, because of storage costs, spoilage costs and money management. However, possessing too little inventory isn’t good either, because the business can run out of popular items and loose a percent in market share. Management of inventory forecast and strategies is necessary for every serious business and can help minimize inventory costs.
Inventory list forms come in different formats. We offer a very basic printable sample inventory list template. New inventory templates and inventory list samples will be available soon in various formats.