Written by:Diomer Antonio Galán Rincón.
Bachelor's Degree.Public Accounting / MSc.Science of Higher Education.
Introduction
Inventories originated with the Egyptians and other ancient peoples, who used to protect large quantities of food and supplies to be consumed and used in times of drought or calamity. This is how inventories arose, as a way to cope with periods of scarcity and with the clear knowledge of how much merchandise they had stored. In this way it would allow to assure the subsistence of the organizations in time and the development of their operative activities in an objective and correct way.
Inventory management is a central point to avoid financial problems in the organizations, it is a fundamental and indispensable element in the production of the companies, since it is the most liquid current asset and it is the main impulse that moves the organizations, since it is the basis for marketing that allows them to generate profits and sustained growth.
On the other hand, the inventory turnover is the way to see the assets in a tangible and perceptible way, in many occasions it is not an easy task, but it is not difficult either and although it can be a tedious exercise, it is a fundamental part in the development of the companies, the inventories represent a very large percentage of the investment on the working capital of the companies regardless of their size.
Therefore, an optimal management of inventory turnover will contribute to achieve better results in the closing of the accounting, economic and administrative cycle of companies with benefits in profits and would be maximizing the use of the organization's resources. On the contrary, if a good inventory management is not carried out, storage costs may increase and the capital required for the development of the organization's operations will increase, which will manifest itself in the future in a loss of value.
Conclusion:
We can emphasize that effective inventory management, regardless of the size of the organization or company, is essential for rapid growt.
Maintaining an effective rotation of merchandise inventories in stop will bring with it the availability of merchandise in good condition for sale.
I hope you like my article and I would appreciate all your comments.
bibliography consulted:
1.- Cabriles G. Ysabel L. (2014). Proposal of a safety stock inventory control system to improve the purchase management of raw materials, spare parts and supplies of Bagres C.A. company.
2- Correa Yusty Julián Alberto (2010). Process of improvement in inventory turnover in Group C. Lozano Frexco S.A.S.
The inventory lets you know how much product liability you have and what that means in the legal tender currency according to where the company is located, being able to create marketing strategies for products with little movement. The rotation of these products prevents those with expiration dates from turning into losses, which could be a catastrophe for companies that sell mass consumption products. @tipu curate 2
Greetings @joseph1956, I share with you .It is of utmost importance to rotate inventories to avoid losses due to mishandling of inventories .
Thank you very much for your comments
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Hello @dgalan
The rotation of inventories is key to the organization, unfortunately some managers do not give it the importance that it has.
Great read, thanks for sharing
Have a great day!
Regards.
hello @janettyanez, when managers understand how important it is for companies to know the stop of inventories and make an effective rotation, companies can obtain better profitability and decrease losses significantly.
Thank you very much for your comments
Hello @dgalan!
Inventory management in a company provides an idea of how organized it is, if not carried out correctly it can generate big problems with the customer and therefore in profits. Greetings!
El inventario puedes ponerlo en practica hasta en el frigorífico de tu hogar, colocando las verduras y Hortalizas próximas a dañarse hacia un lado mas visible y de fácil acceso. para ser usada prontamente y reservar las nuevas por mas tiempo. El inventario aplicado a la vida cotidiana. saludos
Greetings @katimar is so , if we apply the same criteria of inventory management in our home , we will have a vision of what we have , we need and we must consume before they lose their properties .
Thank you very much for your comments