Book Inventory refers to the stock of books that a business has in hand according to recorded figures. It is an essential component in inventory management, impacting both financial reporting and operational efficiency.
A decision model that determines the optimum order size for purchasing or manufacturing an item in stock, balancing ordering and holding costs.
A Materials Returns Note (MRN), also known as a Stores Returns Note (SRN), is a document used to record the return of materials to the store. Similar to a materials requisition, it is considered a prime document used to debit stock and credit expenditure.
Physical Inventory, also known as a physical stock check, is the process of counting the physical balance of stock items at a particular time to facilitate stocktaking under systems like inventory control or continuous stocktaking.
Stock control, also known as inventory control, refers to the processes and systems used to oversee the ordering, storage, and use of components that a company uses in the production of the items it sells, as well as the finished products themselves.
