Letosys

Inventory aka Stock which business holds the goods and materials for resale. Generally understood the term, Inventory means the physical stock of goods kept in store to meet the anticipated demand. Every company needs goods or materials for multiple purposes and maintains them on hand at or near to a business location so that the firm may meet the demand and fulfill its reason for existence. The pace at which the inventory gets converted into finished goods and the finished goods get sold and get converted into revenue is also called inventory turnover. Every company has inventory in a different form. Three businesses are merchandise, manufacturing, and Service. Out of these inventory plays a major role in merchandise and manufacturing than Service-based companies. Inventory in a service context is quite difficult to explain and intangible. Following are the different types of inventory: Raw Materials Work in Process Finished Goods Packing Materials MRO Supplies Raw M...

Most of the small business owners still count or tracking their inventory by hand write and key in data. They are updating, maintaining and controlling inventory system manually without using any technical system. Business owners should realize this manual inventory tracking. A transition from a traditional inventory tracking into an automated tracking system will save time, money and resources. Perfect Inventory Management Software will help business owners as well as employees involved in the case of time and accuracy. No More Spreadsheet Utilizing Excel sheet to track inventory may cut the cost of an organization. It may be perfect for start-up and small businesses even medium-sized businesses may struggle with inventory tracking by excel sheet. For enterprises managing and tracking all inventory using excel is not a cup of tea. It is hard to handle tracking inventory, order, sales and dozens of other functions only by Excel Sheet. Using an Excel sheet to trac...