10 Unit Credit Values

• Inventory: raw materials; work-in-progress; maintenance, repair and operational; anticipation inventory; investment inventory; manufacturing organisations; service industries; military
• Purpose of Inventory: variation in production demand; unexpected customer demand; seasonal demand; price discounts; avoiding price increase
• Inventory Control Process: goods receipts; put-away; audit trails; inventory accuracy; training; monitoring for compliance; accuracy tracking; lead time, inventory identification and tracking; inventory location and storage; inventory numbering; safety inventory
• Alternatives to Holding Inventory: Just-in-Time; material requirements planning; Master Production Schedule (MPS); bills of materials; inventory status

The above is the unit content for the Inventory Process unit found in the Level 3 qualification. To view more units, click here and select the “Units” tab.