![]() Inventory has to be physically counted or measured before it can be put on a balance sheet. nventory represents a current asset since a company typically intends to sell its finished goods within a short amount of time, typically a year. To achieve these balances, firms have developed several methods for inventory management, including just-in-time (JIT) and materials requirement planning (MRP). For companies with complex supply chains and manufacturing processes, balancing the risks of inventory gluts and shortages is especially difficult. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items.
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