Finish chart in the Supply Inventory

Aug 6th, 2022
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How to finish chart in the Supply Inventory

4.6 out of 5
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what is the perfect inventory level for your company I got this question so many times in my life and in this video Im going to teach you how do I work how do I forecast the short term the midterm and the long term using real examples from real companies and also give you the directions to improve your inventory your service and the profit of your company [Music] alright so Im going to be completely honest with you Ive been working in supply chain and operations for the last 15 years in multiple countries from Wales worker to demand planning snlp suppression director and consultant I really did my best but I never docHubed this perfect level never why because its never enough and I was classified the top performers in my companies Ive been optimizing the inventory by hundreds millions of USD and Euros but when I was doing a great year I had to do better the year after and I was pushing and pushing every day like Dwayne Johnson not in the same way because I dont have the same body

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Finished goods inventory is the total number of manufactured products that are available, in stock, and ready for purchase by vendors, retailers, and consumers. With that said, finished products are often a relative concept, since a sellers goods may actually become another buyers raw materials inventory.
Finished goods inventory = beginning finished goods + cost of manufactured goods - COGSFinished goods inventory refers to the total amount of inventory a company has remaining during a specific time in an accounting period.
Finished goods include everything from clothing to food to electronics. This term simply refers to the final product since it has completed the process and is ready to be sold to customers directly or to other businesses. Finished goods may also be referred to as final goods or consumer goods.
Ending Finished Goods Inventory is the stock of products that are ready for sale but not yet sold. Before producing the products, calculate the basic costs of materials, direct labor costs, and overhead budgets to develop a budget for these goods.
Some examples of finished goods are cars, furniture, clothes, and smartphones. These products have completed a companys production cycle and are ready for sale.
As a finished goods inventory example, lets say you own a clothing boutique. Your finished goods inventory contains items that are in finished, wearable condition. On the other hand, raw materials like fabric or spools of thread would not be considered finished goods since they cant be sold as is.
Add the beginning finished goods inventory to the cost of goods manufactured. Subtract the cost of goods sold (COGS) during the accounting period. The resulting value is the ending finished goods inventory, which should be recorded in the balance sheet as a current asset.

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