Inventory

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inventory

[′in·vən‚tȯr·ē]
(engineering)
The amount of plastic in the heating cylinder or barrel in injection molding or extrusion.

Inventory

 

the control of the presence and condition of material values (fixed and working capital) in kind as well as monetary resources, balances in bank accounts, and accounts with debtors and creditors. Taking inventory is one of the most important methods of control over the safeguarding of socialist property, over the qualitative preservation of raw and other materials and finished goods, and over the accuracy of warehouse management and current accounting. In the USSR, taking inventory is obligatory for all state, cooperative, and public enterprises, organizations, and institutions.

Inventories may be complete or partial, planned or unexpected. A complete inventory includes checking of all resources of the enterprise and of all its accounting relations; it is held on the basis of the Statute on Accounting Reports and Balances of State, Cooperative (Except Kolkhoz), and Public Enterprises and Organizations (this statute was confirmed by the Council of Ministers of the USSR of Sept. 12, 1951, with subsequent amendments and supplements). The purpose of a complete inventory is to ensure that the bookkeeping balances as of the end of the year are real and by the same token to prove the reality of the financial results of the enterprise’s activity as shown in these balances. Such an inventory is taken also at the time of organization or liquidation of an enterprise. Partial inventories are taken to check the existence of those resources which according to their physical properties are subject to natural loss when stored; they are also taken when writing off goods that have become worthless and when hiring personnel responsible for material values. Planned inventories are taken during the whole year according to a calendar chart confirmed by the manager of the enterprise or of the economic organization. Unexpected inventories are made to prevent embezzlement and misappropriation of material or monetary resources and to establish the extent of losses in case an embezzlement has taken place. Dates and the number of inventories during the year are established with due regard to different kinds of resources.

The taking of inventories is entrusted to a commission that is appointed by the manager of the enterprise and in which the chief (senior) accountant takes part. This commission is headed by the manager of the enterprise or by his deputy. The procedure of taking the inventory is determined by ministries and government departments.

References in periodicals archive ?
Our major findings are the following: (1) states with higher fuel costs have lower inventories, ceteris paribus; (2) there are lower inventory deviations across states when fuel costs rise; that is, the inventory distribution becomes flatter; and (3) when fuel costs increase, states with higher production output increase their relative inventories, whereas states with higher GDPs experience relative decreases in inventory, suggesting that inventory moves from points of demand to points of production.
The size of inventories in the selected five cement companies in Tamilnadu during the 10 year period commencing from 1998-99 to 2007-08 is exhibited in the following table.
In the past, inventories of oil and other commodities moved countercyclically with prices.
In the second half of 2004, manufacturing firms will build up inventories of input goods as output increases.
According to Aeon's 2003 Annual Report, improvements in the accuracy of inventory management brought on by JDA's merchandise management system allowed Aeon to reduce inventories in directly operated stores by [yen] 4.1 billion compared with fiscal 2002, as sales increased by [yen] 23.6 billion.
The meticulous study of inventories now also gives us hard data with which to compare the settings of these domestic scenes with the interiors of actual homes.
Material costs can be controlled and inventories slashed, contributing to lower costs.
Now it is not uncommon to gather job status, shipping, receiving, current inventories (casting, core and purchased parts), maintenance information and physical inventories via a data collection device.
THIS REPORT PRESENTS revised estimates of real inventories, sales, and inventory-sales (I-S) ratios for manufacturing and trade, quarterly beginning with 1977 and monthly beginning with 1997.(1) I-S ratios are used to assess the likelihood that businesses will add to (or reduce) inventories in response to changes in demand.
With T.I.M.E., we've reduced inventories from 25 to five days."
Since 1996, the New Jersey office market has experienced an incredible 8.4 percent rise in inventories, yet the availability rate has kept pace with this expansion by shrinking from 16.6 percent to 13.8 percent, according to a report from Newmark Partners, Inc., the New Jersey operation of Newmark & Company Real Estate, Inc.