Comparing ABC vs VED Analysis of Inventory

Running a successful business demands effective inventory management. This involves keeping low levels of inventories by providing the right products at the appropriate time and reducing the associated costs. These analyses are carried out ... Read more

VED Analysis is Based on Which Material?

The VED analysis is based on the importance or value of inventory items to a business. VED analysis is based on the criticality of an item. It is used to classify inventory items ... Read more

VED Analysis of Inventory Management with Example

Inventory analysis aims to strike the perfect balance between having sufficient inventory to meet customer demands and avoiding excessive inventory that can tie up capital and lead to increased carrying costs. In ... Read more

How to Create an Office Policy for Inventory?

Every professional business needs some set of rules and standard policies to act in a particular situation. Different situations in business require a different set of policies. Similarly, business offices of companies ... Read more