An organization may categorize its inventory in three ways: raw materials that it will use to produce its goods; work in process, consisting of items in the manufacturing process but not yet complete; ...

Small businesses need to be aware of their inventory in order to adjust their production levels. One of the most important inventories to be familiar with is the finished goods inventory, as it ...

This article is based on my observations the last few years when I’ve been invited into factories looking for help to start (or too often restart) a continuous improvement (CI) strategy. The subject ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...