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  • calendarApprox Completion Time 15 days
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  • workContent 01:51 Hours Videos
    18 Lessons

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Overview

What will be the training syllabus?

 

Inventory management can be defined as a whole lot of activities done to maintain an optimum number of inventories to ensure uninterrupted production, sales, high customer satisfaction, reduced inventory handling cost and so on.

In simple words, inventory management is all about striking the balance between overstocking and understocking. Overstocking will lead to cash flow blockage and additional cost for managing excess stock. On the flip side, understocking leads to loss of sale due to non-availability of stock at the right time.

Thus, it’s all about maintaining the right level inventories at the right time and keeping the inventory handling cost at low.

What Is Inventory Management?

Inventory management helps companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage.

Once sold, inventory becomes revenue. Before it sells, inventory (although reported as an asset on the balance sheet) ties up cash. Therefore, too much stock costs money and reduces cash flow.

One measurement of good inventory management is inventory turnover. An accounting measurement, inventory turnover reflects how often stock is sold in a period. A business does not want more stock than sales. Poor inventory turnover can lead to deadstock, or unsold stock.

Why Is Inventory Management Important?

Inventory management is vital to a company’s health because it helps make sure there is rarely too much or too little stock on hand, limiting the risk of stockouts and inaccurate records.

Public companies must track inventory as a requirement for compliance with Securities and Exchange Commission (SEC) rules and the Sarbanes-Oxley (SOX) Act. Companies must document their management processes to prove compliance.

 

Basic Requirement

  • Basic of computer

Skills Covered

  • Accountant, Data Entry operater

Get Certified

You will receive an industry-recognized Certification fromtheAttitude Tally Academy and TeacherDada after completing the course. You can also share your Certificate in the Certifications section of your LinkedIn profile, CVs, resumes, and other documents.

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FAQ's

The 4 Types of Inventory Management The types of inventory management are Raw Materials, Works-In-Process, Maintenance, Repair and Operations or MRO and Finished Goods

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                                 Attitude Tally Academy

Attitude Tally Academy

Attitude Tally Academy offers Job oriented Training courses in e-Accounting, Computers, Personality Development, Multimedia Designing, Fashion & Garments, Advanced Diploma in Computer Applications, IT Training, and Internship etc. Join our Institute for 100% Job Guaranteed Courses and Training Classes in Yamuna Vihar, Uttam Nagar and Delhi NCR. Attitude Tally Academy is the best Institute in Yamuna Vihar, Uttam Nagar and Delhi NCR which offers 100% job-placement guaranteed courses.