Inventory management in the markets

in Project HOPE3 months ago
Dear readers, as I have mentioned previously, I have been doing some research on the processes that are considered of utmost importance to maintain the prosperity of a company, in this particular case a food sales business known as markets; in this publication I will describe from my perspective the importance of managing inventories in the markets.

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In that sense, it could be said that inventories is the relationship of the set of goods that a company has in order to offer its customers different types of products. It is important to mention that inventories must be managed manually or digitally, specifying all the merchandise that the business unit has, so that each of these processes can be carried out in detail so that it can be marketed.

In the same vein, authors such as Catacora (1998), state that inventories
"represent the asset items that generate income for various types of companies, among which are those that have a transformation activity and those that are dedicated to the purchase and sale or marketing".

In the case of the market or supplies, inventories should be kept in an organized manner, which would be the goods that enter and leave daily. This is why the business unit must be aware of how its inventories are being managed, since this is the main source of income for the company.

It is also essential to clarify that if the company from the beginning does not keep track of its inventory and does not evaluate what goods are leaving the business unit at a future time may have problems because it is not related to what kind of products are leaving the company, in some particular cases businesses have come to ruin, since they do not have related neither the goods that are leaving nor the profits to be obtained from it.

On the other hand, at the moment when a person decides to undertake this type of business, whether in a market or supply, it is essential to manage the accounting books once the company is formed, these books are: purchase book, sales book and inventory book, each of them has a different function and in them all the information of the business unit will be managed, which will help to be clear about the income produced by the company.

Finally to end this post we can say that inventories are the main tool to start a business, in case you do not know how to keep the record properly, seek advice from a public accountant who can explain each of these processes and thus the representative of the business unit will know what their income and expenses and if the company makes a profit or loss.

Bibliographic references
Catacora, F. (1998). Accounting. Caracas: McGraw-Hill.

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Very interesting this post is quite useful and i've get to understand how and why inventories are important in managing business thanks for sharing

Hello friend, thank you for leaving your valuable comment, without a doubt inventories are of great importance to keep companies afloat, as it allows us to effectively identify any problems with finances.

See you later, have a great start of the week.

excellent post @amestyj, notice that inventories are as important in business, as the same capital that handles it, since these two concepts go hand in hand to obtain an exponential growth of the market.

Hello dear friend, thank you for your valuable contribution to the article, and for making us see that inventories are as important as capital itself.

See you later, have a great start of the week.

@tipu curate 4