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).
Motives for holding INV include transactional motives, precautionary motives, speculative motives, seasonal and dead stock holding.


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More on inventory: ABC Analysis, Inventory Management, Materials Management, Vendor Managed Inventory.

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