FIFO (first in, first out) is the most common method of accounting for inventory. It assumes that the first items in were the first items sold. When inventory is used to create products, there is ...

Two-bin inventory control provides a method by which companies are internally flagged when items they need for production are ...

Accountants close the books each month to freeze the data for the period. When the numbers transfer to the general ledger, the accounting activity for the month provides a window for managers to view ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t ...

The inventory planning process in consumer packaged goods has followed a specific sequence for several years. The process ...

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 ...

ANNISTON ARMY DEPOT, Ala. - Parts handlers here finding unused items and entering those stock numbers into the Standard Depot System won't be able to account for items the same way come October when ...

With supply costs as one of the two largest expenses for ASCs (the other being staffing), it is imperative for surgery centers to make improving inventory management an ongoing priority. To be ...