What is inventory?

Inventory includes items that are used once or last only a short time, and may also be referred to as consumables. Such items do not need to be tracked individually, but knowing the quantity on hand at each location is valuable so that they can be managed effectively and reordered when necessary. Examples of inventory items include office supplies such as staples, notebooks, and markers, perishables of any kind, and items that are used only once, such as bandages or disposable tubing. Not all companies need to track consumables, but the inventory tracking option is there if you need it.

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