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Definition: Inventory is referring to a stock or store of goods or services kept for use or for sale in the future. INV includes raw materials and supplies/purchased parts, partially completed goods that is work-in-progress (WIP), finished goods and goods-in-transit (GIT). |
More on inventory: ABC Analysis, Inventory Management, Materials Management, Vendor Managed Inventory. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
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