BAMG 30700 Midterm: Process Analytics Study Guide Part 7
18 May 2018
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Process Analytics Study Guide
• Inventory:
o A stock of materials used to satisfy customer demand or support the production
of goods and services
▪ Include things like containers on ships, cargo loaded onto an airplane,
and products you see at your local grocery store
o Two types of inventory include:
▪ 1. Accounting =
• have meaning in GAAP accounting process
• actual, physical inventories
▪ 2. Operational =
• more interested in this type
• measurements about how efficient business processes are that
transform the inventories into finished products
o MANAGING inventories
• Relevant and necessary because dimension of time has been
introduced
o cycle
• Trasfor =
o part of a process required an operational view of inventory
o Types of ACCOUNTING Inventory:
find more resources at oneclass.com
find more resources at oneclass.com
