Classification of Inventory - Operations, Logistics Management Video Lecture | Logistics Management - B Com

hello folks this is a massage with two
minutes supply chain manager in this
episode we will learn about different
classification of inventory inventory or
stock consists of all goods and material
that are stored by an organization for
the purpose of production and serving
the customer we classify inventor into
five types as follows raw material WIP
or working process finished goods MRO
and in transit inventory
now let's discuss all these types in
detail raw material includes parts
assembly sub assemblies chemicals and
other coming zoomable which are the
ingredients of the product but not yet
used working process or the goods which
are on various stages of completion but
not yet completed finished goods
inventory is there ready to be used
product which is not yet shipped mr o
stands for maintenance repair and
overhaul so in short all those parts
chemical and other spares which are used
to upkeep the equipment and work place
are fall under this umbrella they are
not directly used in production transit
inventory is consists of all raw
materials work-in-process MRO and finish
good inventory which is transported
between the facilities I hope you like
the presentation thank you for watching