TYPE OF INVENTORY

TYPE OF INVENTORY

Type Of Inventories

RAW MATERIAL

Raw material Any item used to manufacture components or finished products. These can be items produced directly by your business or purchased from a supplier. For example, the potato chips making business may purchase raw materials such as potato, turmeric and salt

WORK-IN PROGRESS INVENTORY

Works-in-progress inventory refers to unfinished items to move through production but not yet ready for sale. In the case of the candle-making business, the work-in-progress inventory may be potato chips that are drying and unpacked.

MAINTENANCE, REPAIR AND OPERATION (MRO)

Maintenance, Repair and Operation (MRO) Goods Items used to aid and facilitate the production of finished goods. These items are commonly used as a result of the production process, but are not a direct part of the finished product. For example, disposable molds used to manufacture potato chips would be considered MRO inventories.

FINISH GOODS (FG)

Finished goods are products that have completed the production process and are ready to sell: the potato chips themselves.

Comments

Quality control (QC)

Quality control (QC) What Is Quality Control? Quality control (QC) is a process through which a business seeks to ensure that product quality is improved. Quality control requires the business to create an environment in which both management and employees try for perfection. This is done by training personnel, to examine statistically significant variations, creating benchmarks for product quality and test products. A key aspect of quality control is the establishment of well-defined controls. These controls help to standardize both production and feedback on quality issues. Limiting room for error by specifying production activities, by which personnel reduce the chance that employees will be involved in tasks for which they do not have sufficient training. Keys Quality control (QC) is a process through which a business seeks to ensure that product quality is maintained or improved. Quality control involves testing the units and determining if they are within the specifications...

USE FIFO & FEFO

IN WHICH CASE WE USE FIFO USE OF FIFO (FIRST IN FIRST OUT) When we suspect batch wise / date wise / month wise any material (like food product or others), what comes first will go first, ie the product that comes first will go to the market first. USE OF FEFO (FIRST EXPIRE FIRST OUT) When we make any product (such as food products and other products) then everyone has an expiry date, so what we do is sell the product that is made first, before any product goes bad. Be consumed For more info:- https://www.blogger.com/blog/post/edit/6705131264869638993/431436093468909432?hl=en

STORE KEEPER

WORK OF STORE KEEPER BASIC WORK OF STORE KEEPER Receiving of material and verification as per document. Monitoring and tracking of shortage material and physical. Knowledge of FIFO, FEFO Line auditor from store end. Ensuring movement of the material from incoming area to main store. Material issue as per plan. Responsible for 5’S and housekeeping of ware house. Supervised the import and export loads and bulk cargo BASIC WORK OF SENIOR STORE EXECUTIVE Aging sheet maintained daily Preparing monthly stock reconciliation report Maintain minimum and maximum level in store. Sending of email and other communication concern to department Manage the training and development of new recruiters. Daily maintain excel sheet to remind physical stocks. Continuous fallow up with the transporter until consignment reaches up its destination. For more info :- https://www.blogger.com/...

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