What Does Comprehensive Inventory Mean?
- The term "comprehensive" means encompassing everything that a subject or item could possibly have. In other words, the term means "everything" or to include everything in relation to a project or item and to provide a complete overview and long list of details to gain a broader understanding of the given item.
- A comprehensive inventory refers to an inventory that provides many details regarding the items within, such as quantities available, sizes, color selection of each item, products available in bulk for sale, similar products from different manufacturers and different shapes of a single type of product. The information will also include the price for a single product and the price for bulk purchases.
- An automated inventory system will update automatically when a product is removed from the inventory. This means that part of the comprehensive data includes providing a figure of available items ready for purchase or product development at any given time. Other controlling methods for a comprehensive inventory include a scanning system with bar codes or frequent manual counts and daily updates.
- A comprehensive and detailed inventory is an important feature for companies with larger inventories and frequently daily outgoing traffic. Since an automated comprehensive inventory system provides figures of available items, it also tracks how many items were removed from sale and how many items end up as waste due to damage or expiration dates. These data help in purchasing decisions to minimize waste and increase outgoing inventory traffic for final sales.
"Comprehensive" Definition
Comprehensive Inventory
Controlling a Comprehensive Inventory
Importance of a Detailed Inventory
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