I am giving an answe on the basis of my Retail Experience..... In Retail supply Chain we are using a Vendor to DC and then DC to Stores......If we are replinishing our store from Distribution Center then it will be Relpenishment Inventory and Once we are purchasing from supplier to fulfill our requirment of DC that will called Requirement Planning.......
What is the difference between fixed asset and inventory
The difference between stock and inventory is that stock is what you have if you're selling items. Inventory includes what you have as your belongings.
in fact there is no diff.
periodic takes place on an irregular schedule where perpetual is a constant state of inventory
* Inventory: A concept of having something stored. * Warehouse: A building to store goods in.
Their is no Difference
What is the difference between fixed asset and inventory
The difference between stock and inventory is that stock is what you have if you're selling items. Inventory includes what you have as your belongings.
There are some differences between a replenishment philosophy and a requirements philosophy: - The requirement philosophy is used in MRP systems whilst the replenishment philosophy is used in order-point systems. - The replenishment philosophy is oriented toward the customer and it more focuses outward objectives where as the requirement philosophy is oriented toward manufacturer and it more focuses inward objectives. - In the replenishment philosophy, material should be replenished when it runs low versus in the requirement philosophy, material is ordered only when a need exists as directed by the master schedule. If there are no manufacturing requirements for a particular part, it will not be replenished, even though the inventory level is low. - In the replenishment philosophy, ABC principle is applied as a control principle and EOQ formula can help providing relative accurate stock level. In the requirement philosophy, ABC principle and the time-honored EOQ do not work well if this order philosophy is applied. - In the requirement philosophy, as MRP is future-oriented so ordering philosophy base on requirement generated from master schedule. In the replenishment philosophy, the forecast of replenishment the stock level base on the past history of demand. - In the replenishment philosophy, if demand is lumpy, materials will be carried on hand during long period of zero demand resulting in unnecessary inventory-carrying cost. But in the requirement philosophy, the requirement of particular part is very important in manufacturing because demand for component parts is lumpy.
what is definition of inventory? what is the difference between inventory and asset?
in fact there is no diff.
There is no different between the two measurement.
periodic takes place on an irregular schedule where perpetual is a constant state of inventory
PPE is part of unventory
An inventory variance report shows the difference between previous recorded inventory quantity and correct inventory quantity which is discovered immediately after a physical count. It also reports on the value difference the quantity variances caused.
* Inventory: A concept of having something stored. * Warehouse: A building to store goods in.
LIFO Reserve