Asset Inventory Management Objectives Classification Processes Development Management
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The document outlines various costs and objectives associated with asset inventory management, highlighting expenses such as setup, spoilage, carrying stock, and order placement. It emphasizes the importance of efficiently maintaining inventory for production continuity, demand fulfillment, and minimizing associated costs. Additionally, it categorizes asset inventory into raw materials, work-in-progress, stores and spares, and finished goods.
Asset Inventory Management Objectives Classification Processes Development Management
- 2. Different Costs of Holding Asset Inventory 2 Set up Cost • Such expenses cover clerical charges on orders and discount rates on the ordered quantity of goods • Text here Cost of Spoilage and Obsolescence • The next is the cost of spoilage and obsolescence. It refers to loss of goods while in stock • Text here Cost of Placing an Order • This expense may be incurred in requiring foreign suppliers to purchase raw goods to be produced within the business • Text here Cost of Carrying Stock • This is the cost incurred by a corporation to hold the product • Text here Cost of Running out of Stock • Those costs are incurred whenever stock exhausts for any item. Those costs vary in nature • Text here 01 02 03 04 05 This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 3. Different Objectives of Holding Asset Inventory 3 For Speculative Purposes • The motivation for holding asset inventories for speculative purpose will rely on the price increase expectations • Text here Facilitating a steady production rate • The ordinary motive for maintaining asset inventories is to allow the company firm to maintain a constant rate if product flow for continuous supply • Text here To Meet Demand • The motive to hold asset inventories to meet demand is quite important for a firm • Add text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 4. Different Types of Asset Inventory Cost 4 Set up Cost Such expenses cover clerical charges on orders and discount rates on the ordered quality of goods Text here Cost of Carrying Stock This is the cost incurred by a corporation to hold the product Text here Cost of Spoilage and Obsolescence The next is the cost of spoilage and obsolescence. It refers to loss of goods while in stock Text here Cost of Placing an Order This expense may be incurred in requiring foreign suppliers to purchase raw goods to be produced within the business Text here Cost of Running out of Stock Those costs are incurred whenever stock exhausts for any item. Those costs vary in nature Text here 02 01 03 04 05 This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 5. Five Basic Objectives of Asset Inventory Management 5 To keep asset inventory healthy enough to conduct efficiently the production and sales operations. • Text Here • Text here Minimizing inventory cost to optimize productivity at maximum level. • Text Here • Text here To ensure continuous supply of raw material & finished goods so that production process is not stopped, and consumer demands are property fulfilled. • Text Here • Text here Reducing the robbery, obsolescence & wastage cost etc. • Text Here • Text here Marking arrangements to cater slow moving objects. • Text Here • Text here 01 02 03 04 05 This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 6. Four Basic Classification of Asset Inventory 6 01 02 03 04 Raw Materials Inventory • It consists of basic materials not yet engaged in service at a manufacturing company • Text here Works in Process Inventory • It covers some items which were dedicated to the production process but were not finished • Text here Stores and Spares • It cover certain items that are supplements to the main products that are manufactured for sale • Text here Finished Goods Inventory • These are goods that await sale done. The purpose of the inventory of finished goods is to uncouple the functions of production and sale • Text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 7. Four Basic Objectives of Holding Asset Inventory 7 Inventories as capital expenditures. • To avoid temporary suspension of production, inventory keeping of raw materials is expected • Text here Linked processes • In the of manufacturing containing containing multiple related processes, inventories act as balancing component and not just the buffer stock function • Text here Smoothing distributional development • Many industries find it convenient to maintain a stable production level even when faced with fluctuating demand. • Text here Stock-out avoidance • Inventory retention refers to a company’s efficient operation. • Text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 8. Four Different Categories of Asset Inventory 8 01 02 04 03 Stores and Spares • It covers certain items that are supplements to the main products that are manufactured for sale • Text here Finished Goods Inventory • These are goods that await sale done. The pur pose of the inventory of finished goods is to uncouple the functions of production and sale • Text here Works in Process Inventory • It covers some items which were dedicated to the production process but were not finished • Text here Raw Materials Inventory • It consists of basic materials not yet engaged in service at a manufacturing company • Text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 9. Four Main Reasons for Holding Asset Inventory 9 Inventories as capital Expenditures. • To avoid temporary suspension of production, inventory keeping of raw materials is expected • Text here Linked processes • In the case of manufacturing processes containing multiple related process, inventories act as balancing component and not just the butter stock function • Text here Smoothing Distributional development • Many industries find it convenient to maintain stable production level even when faced with fluctuating demand. • Text here Stock-out avoidance • Inventory retention refers to a company's efficient operation • Text here 04 01 03 02 This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 10. Key Objectives of Asset Inventory Management 10 01 02 03 04 05 Inventory Management To keep asset inventory healthy enough to conduct efficiently the production and sales operations. Text here Minimizing inventory co sts to optimize productiv ity at maximum level. Text here To ensure continuous Supply of raw material & finished goods so that production process is not stopped, and consumer demands are properly fulfilled. Text here Reducing the robbery, obsolescence & Wastage costs etc. Text here Making arrangements to cater slow moving objects. Text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 11. 11 Person Handling Asset Inventory On Transportation Crane This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 01 This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 02 This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 03
- 12. 12 Stockpiling of Asset Inventory in Warehouse This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 01 This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 02 This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here 03
- 13. Three Point Explaining the Motives of Holding Asset Inventory 13 For Speculative Purposes • The motivation for holding asset inventories for speculative purposes will rely on the price increase expectations • Text here 01 Facilitating a steady production rate • The ordinary motive for maintaining asset inventories is to allow the company firm to maintain a constant rate of product flow for continuous supply • Text here 02 To Meet Demand • The motive to hold asset inventories to meet demand is quite important for a firm • Add text here 03 Asset Inventory This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
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