Register now or log in to join your professional community.
1. A perpetual inventory system
2. A fixed quantity system.
3. A continuous inventory system.
4. A fixed period system.
Hello Team,
Inventory counting systems can be periodic or perpetual. Under a periodic inventory system, a physical count of items in inventory is made at periodic intervals (e.g., weekly, monthly) in order to decide how much to order for each item. Examples are small retailers. This system allows placing orders for many items at the same time. However, there is a lack of control between reviews and there is a need to protect against shortage between review periods by carrying extra stock.
A perpetual inventory system (also known as a continual system) keeps track of removals from inventory on a continuous basis. When the amount on hand reaches a predefined minimum, a fixed quantity, Q, is ordered. The system provides continuous monitoring of inventory withdraws and the setting of optimal order quantity. However, there is added cost for record keeping and physical count is still needed to verify inventory records. Discrepancy could occur due to errors, pilferage, spoilage, and other factors. Examples are bank transactions, 7-11 stores, supermarkets, discount stores, and department stores.
Regards,
Saiyid
My answer is <<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>.. Perpetual inventory system
1. A Perpetual inventory system. This is the perfect answer to this question.
Continuous monitoring and updating of the Inventory records are termed as perpetual inventory system
A. perpetual inventory system is keep records withdrawal or addition to inventory
sorry i'm not expert on this field
This is not my area of experience or expertise. I shall let the experts tend to this query.
a perpetual inventory system..............
Thanks for the invite I agree with the experts answers
