A company's inventory is one of its most important assets. Inventory can be broken down into four categories -- raw materials, finished product, work in process and supplies. Raw materials are the ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Effective inventory management is vital for any ...

Proper inventory management is the backbone of successful businesses, preventing stockouts or excess stacks. It ensures a smooth supply chain, providing materials for operations. This critical ...

Generally Accepted Accounting Principles (GAAP) recognize three different types of inventory: raw materials, work-in-process and finished goods. Not every type of business carries all three types of ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Suzanne is a content marketer, writer, and fact-checker. She ...