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Inventory refers to the precise and thorough record or list of all goods, products, or materials that a business entity or individual possesses at a given point in time. It comprises a detailed account of the items, including their quantities, descriptions, and often their values. An inventory serves as a crucial tool for monitoring and managing the assets and stock of a company, ensuring accurate accounting and efficient operations.
In the context of business, inventory typically includes items either ready for sale, such as finished goods, or those that are in the process of production, referred to as work-in-progress. It also encompasses raw materials, components, and supplies that are necessary for production or service delivery. Inventories can be classified into different categories, such as direct (materials used in production) and indirect (supplies like office stationery), depending on their purpose and usage.
Maintaining an inventory allows businesses to track their stocks, forecast demand, and optimize production and purchasing decisions. It enables them to identify stock shortages or surpluses, prevent stockouts or overstocking, and streamline the supply chain. Accurate inventory management aids in cost control, minimizes the risk of losses due to theft or obsolescence, and promotes effective utilization of resources.
Inventory management often includes activities like regular stocktaking, updating records, conducting audits, and implementing inventory control measures. Many organizations utilize specialized software or systems for real-time tracking, monitoring, and analyzing inventory data to support efficient and effective business operations.
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• A catalogue or written list of movable property.
• To make a list or catalogue of.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word "inventory" originated from the Latin word "inventorium", which referred to a list or record of goods, possessions, or accounts. It is derived from the verb "invenire", meaning "to find" or "to come upon". Over time, "inventorium" transformed into "inventorie" in Old French, and eventually became "inventory" in English.
CONDITIONAL PERFECT
I
would have inventoried
you
would have inventoried
he/she/it
would have inventoried
we
would have inventoried
they
would have inventoried
I
would have inventory
you
would have inventory
he/she/it
would have inventory
we
would have inventory
they
would have inventory
CONDITIONAL PERFECT PROGRESSIVE
I
would have been inventorying
you
would have been inventorying
he/she/it
would have been inventorying
we
would have been inventorying
they
would have been inventorying
CONDITIONAL PRESENT
I
would inventory
you
would inventory
he/she/it
would inventory
we
would inventory
they
would inventory
CONDITIONAL PRESENT PROGRESSIVE
I
would be inventorying
you
would be inventorying
he/she/it
would be inventorying
we
would be inventorying
they
would be inventorying
FUTURE
I
will inventory
you
will inventory
he/she/it
will inventory
we
will inventory
they
will inventory
FUTURE CONTINUOUS
I
will be inventorying
you
will be inventorying
he/she/it
will be inventorying
we
will be inventorying
they
will be inventorying
FUTURE PERFECT
I
will have inventoried
you
will have inventoried
he/she/it
will have inventoried
we
will have inventoried
they
will have inventoried
FUTURE PERFECT CONTINUOUS
I
will have been inventorying
you
will have been inventorying
he/she/it
will have been inventorying
we
will have been inventorying
they
will have been inventorying
IMPERATIVE
you
inventory
we
let´s inventory
to inventory
PAST CONTINUOUS
I
was inventorying
you
were inventorying
he/she/it
was inventorying
we
were inventorying
they
were inventorying
PAST PARTICIPLE
inventoried
PAST PERFECT
I
had inventoried
you
had inventoried
he/she/it
had inventoried
we
had inventoried
they
had inventoried
PAST PERFECT CONTINUOUS
I
had been inventorying
you
had been inventorying
he/she/it
had been inventorying
we
had been inventorying
they
had been inventorying
PRESENT
I
inventory
you
inventory
he/she/it
inventories
we
inventory
they
inventory
PRESENT CONTINUOUS
I
am inventorying
you
are inventorying
he/she/it
is inventorying
we
are inventorying
they
are inventorying
PRESENT PARTICIPLE
inventorying
PRESENT PERFECT
I
have inventoried
you
have inventoried
he/she/it
has inventoried
we
have inventoried
they
have inventoried
PRESENT PERFECT CONTINUOUS
I
have been inventorying
you
have been inventorying
he/she/it
has been inventorying
we
have been inventorying
they
have been inventorying
PRESENT SUBJUNCTIVE
he/she/it
inventory
SIMPLE PAST
I
inventoried
you
inventoried
he/she/it
inventoried
we
inventoried
they
inventoried
