Is Inventory necessary in business?

[IB D]

Inventory is important because it can even be used to ascertain the present value of a business organization.

 

[cherry123]

inventory is very important in business it is quite necessary in any business venture because it is to help one keep track record of ones business profit and sales daily

 

[relcap23]

It's important to conduct a regular inventor especially in grocery stores. This will. determine what items are fast selling and slow selling. This will also keep track expiry dates of. merchandise thus applicable. strategies can then be applied like lowering seeling cost or make sure these items are sold first and put them in conspicuously located shelves.

 

[Etini Willie]

To do an inventory means to find out how much you gaining a week or in a month. You can also come up with a remedy for the profit that is going down.

An inventory is a record of all stocks and finished products that are available in a business at that particular time. This helps to know the financial position of the business per time.

 

[Starmix]

Yes, they should keep the minimum inventory of finished as well as raw materials to run the operations nicely. There are lots of theories which are used to calculate how much one needs to keep in a manufacturing unit.

The business owner will never know what is going on in his business without inventory. You will get updates on your sales low or high and the things that must be purchased.

 

[Reedex]

Inventory is very necessary in business because it allows you to keep tab of your business performance.

 

[Starmix]

In every company, it needs to conduct inventory. The reason is that to know if they still need to re-stock their items or not.

Yes, that is so right, it is a must for a business owner to do the inventory either weekly or once in every two weeks to get updates on your business. You will know the strengths and weaknesses of your business.

 

[Shavkat]

Yes, that is so right, it is a must for a business owner to do the inventory either weekly or once in every two weeks to get updates on your business. You will know the strengths and weaknesses of your business.

It is indeed necessary that the owners need to be active with this inventory. There are times that some employees will be tempted to something against the company's rules. You know what I mean.

 

[Starmix]

Yes inventory is necessary, so you would know which items are fast moving and which are not.

Yes you are so right inventory served as a tool in assessing the income flow of our business. It is a must to protect the business against bankruptcy or failure.

 

[Hate2Wait]

Inventory is one of the important aspect for business and you need to choose the volume of inventory by looking at different factors like sales data and shelf life of the inventory

 

[IB D]

Inventory helps a business to know it's true position. It also helps to know when production inputs are finishing so it can be replaced for production to be carried on seamlessly.

 

[Yohanna]

Inventory is extremely important for businesses.

 

[Reedex]

Keeping inventory is necessary for businesses to grow and it also allow performance to be enhanced.

 

[Starmix]

Its best to have the minimum stock set up so when our inventory is touching that level we need to place another order

That's absolutely correct it's through constant inventory where business owners know what is lacking and which one needs replacement of stocks.

 

[hastral45]

Inventory otherwise called stock taking is necessary in business. Inventory allows the business to know its status either it is growing or not. Accounting is not complete without taking inventory.

 

[uptrendfinancialsignal]

Inventory otherwise called stock taking is necessary in business. Inventory allows the business to know its status either it is growing or not. Accounting is not complete without taking inventory.

It's necessary to keep doing this as a routine activity in a business in order to put things in the right place.

 

[Starmix]

That is true because we always have to think about our customers in every step we want to take in the business so that it won't affect us

Inventory is necessary to know the strengths and weaknesses of your business. It is also a way to determine your gains and losses. You will be protected against bankruptcy.

 

[hastral45]

Business without accountability and sense of creativity is bound to be bankruptcy. A business owner must always take a proper evaluation of the business often to know if the business is growing or dwindling

Yes, bankruptcy is the most dreadful enemy of all business. As a result of this, accountability must be given a priority on order to know the current status of the business. This is where inventory comes in.

 

[cherry123]

Taking Inventory is very important as you would know the level of productivity of a business. This will help one to really know the strengths and weaknesses of your business.

 

[Starmix]

All this helps in making us aware of which things we need to stock and which to not so we will be in a better situation to plan the Inventory

You are correct, what happens to the business without an inventory? it will be like a sheep without a shepherd. It is from inventory where the owner knows the ups and downs of his business.