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What are the different types of Inventories?

Inventories consist of raw material, work-in-process and finished goods which are held by a business in ordinary course of business, either for sale or for the purpose of using them in the process of producing goods and services. Agree ?

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تم إضافة السؤال من قبل K K Abdul Basheer Supply Chain and Procurement Manager , Supply Chain and Procurement Manager , Al Ahli Plastics Industries
تاريخ النشر: 2014/01/03
Shamsi Khan
من قبل Shamsi Khan , General Manager Supply Chain, Procurement & Operations , Oyster Group (MBK & MFK)

Yes.  However, goods by nature are different like permanent goods, consumables, semi-consumables and salvage.  Each inventory item is classified in any of these.  Similarly, each item requires different types of storage - regular warehouse, temperature-controlled and so on.  To move further the transportation, loading and unloading, stacking requirements all are different.  

yes agree. but there are one more type which is MRO which make a considerable value at service companies. analyzing of each type level , percent can be useful in managing inventory and help to correct inventory mix

Pervaiz Akhtar kayani
من قبل Pervaiz Akhtar kayani , Regional spare parts Manager , M.Y.Naghi Group LLC Rolls Royce / BMW / MINI Dealer for Saudi Arabia

There  are two major type of inventory in storage area( Perpetual & Physical count).  On the other hand goods replanishment according to the scientific lead time. It will help to control finincial inventory level .

 

Mohammed Fathe  Shaheem
من قبل Mohammed Fathe Shaheem , Operation Executive , Arabian Construction Company

Yes agreed with mr parvez AK 

1- raw materials inventory 

2-WIP inventory 

3- finished goods 

4- service inventory 

 

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