MANAGEMENT

Detailed explanation-1: -What is an inventory list? An inventory list is a complete and itemized record of everything a company has in stock, be it for sale, for use or both. It can include raw materials, work-in-progress items and finished goods.

Detailed explanation-2: -An inventory list is a complete, itemized list of every product your business has in stock. This includes your raw materials, work-in-progress, and finished goods. An inventory list should include each item’s SKU number, name, description, cost, and quantity in stock.

Detailed explanation-3: -Inventory List Definition. An inventory list is a mechanism to exercise more control over the inventory of a business entity so that the inventories can be utilized efficiently. It is usually made in an orderly fashion where it is represented as a list of stock items with details about each line item.

Detailed explanation-4: -There are four main types of inventory: raw materials/components, WIP, finished goods and MRO.