Inventory Management System

In the context of a manufacturing production system, inventory refers to all work that has occurred – raw materials, partially finished products, finished products prior to sale and departure from the manufacturing system. In the context of services, inventory refers to all work done prior to sale, including partially process information.

Inventory

1. Raw materials

2. Work in process

3. Finished goods

4. Goods for resale

5. Stocks

6. Maintenance supply