Definition
Inventory, also known as stock, refers to the goods and materials held by a company for the purpose of resale or production. Inventory includes raw materials, work-in-progress, and finished goods that are either purchased or manufactured by the company. Managing inventory involves balancing supply and demand, optimizing stock levels, minimizing holding costs, and ensuring timely delivery to customers. Inventory is recorded as an asset on the balance sheet and is essential for supporting sales and production activities.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.