Types of Inventory
Service persistence is an industry comprised of companies that primarily earn revenue through providing nonphysical products and services. Service industry companies ar involved in retail, transport, distribution, provender services, as well as other service-dominated businesses, also called tertiary sector of industry.
Examples for these are legal companies, accounting companies, banks, mutual lineage companies, insurance companies, transportation companies, advertising agencies, radio and television stations, and Internet-based companies such as Internet service providers, travel agencies, and brokerage firms. much(prenominal) companies pay off minimal product inventory.
But there are also service sectors that wealthy person inventory to help them take their services for example beauty services. They have break polish, nail care products, and face care products that are important in their business. And so from this it is clear that the service sector share similar types of inventory with the manufacturing sector. But the level of problems may vary correspond to the different sectors.
Manufacturing industry has one or more of the avocation three types of inventories which are direct materials inventory, work-in-process inventory, complete goods inventory. Manufacturing sector companies, for example, self-propelled companies, aliment processing companies and textiles companies, purchase materials and components and convert them into various finished goods.
Most of service sector do not have direct materials inventory and work-in-process inventory therefore they not have problems pertaining to those inventories. In some special cases like restaurant, the fresh ingredients and food generated through intermediate cooking steps...If you want to get a full essay, order it on our website: Ordercustompaper.com
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