Companies most often categorize their stock items for sale into the following groups:
Consignment stocks – These are goods that you warehouse (and possibly sell) on behalf of your clients
Finished goods – These are goods ready for sale to customers
Goods for resale – These are returned goods that are salable
Maintenance supply – These are the goods that are stocked for usage within the manufacturing business.
Raw materials – These are components and materials scheduled for use in manufacturing a product
Stocks in transit – These are goods that are on their way from one location to another
Work in Process (WIP) – These are components and materials that have begun their transformation to finished goods
Companies that order, track, sell and re-order categorized items used in manufacturing need a system that enables their use in a variety of ways.
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