{"id":1346,"date":"2017-10-11T22:39:57","date_gmt":"2017-10-11T22:39:57","guid":{"rendered":"http:\/\/www.helpingstudents.com.ng\/?p=1346"},"modified":"2019-12-16T21:14:49","modified_gmt":"2019-12-16T21:14:49","slug":"inventory-control","status":"publish","type":"post","link":"https:\/\/hstutorial.com\/fr\/inventory-control\/","title":{"rendered":"Inventory Control Formulas and Terms +Video Guide"},"content":{"rendered":"<p>In this summary on Inventory Control, I will briefly explain the terminologies being used in this topic and also state their formulas in a way you can easily remember.<\/p>\n<blockquote><p><strong>NOTE:<\/strong><\/p>\n<p>These formulas have been abbreviated in this article just for reference purposes and to help you remember them without stress. Please do not abbreviate while solving questions on Inventory Control in tests and examinations. Watch the video below<\/p><\/blockquote>\n<h3>Video Guide on Inventory Control<\/h3>\n<p>First of all, Inventory Control, Inventory Management or Stock Valuation is concerned with the material (inventory) itself. The control on inventories is taken to ensure that various stock levels established by the organization are maintained throughout the control period.<\/p>\n<p>In this video, you\u2019re going to learn how the stock or inventory are been controlled and the formulas used to derive these stock items. Also, you\u2019ll be able to derive these formulas by yourself and get used to them. <span class=\"waslinkname\">Click here to watch the video on YouTube.<\/span><\/p>\n<div class=\"wonderplugin-video\" style=\"width:600px;height:400px;position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;\" data-aspectratio=\"1.5\"><iframe class=\"wpve-iframe\" width=\"100%\" height=\"100%\" src=\"https:\/\/www.youtube.com\/embed\/PESfQZiv5KQ\" frameborder=\"0\" allowfullscreen><\/iframe><\/div>\n<h2 style=\"text-align: left;\">Inventory Control Formulas<\/h2>\n<p><strong>MAXIMUM STOCK LEVEL:<\/strong><\/p>\n<blockquote><p>This is the stock level that stock items should not be allowed to exceed hence capital would be tied down and lead to high-interest payment.<\/p>\n<p><strong>FORMULA<\/strong>:<br \/>\nRL + RQ \u2013 (MinDP x MinU)<br \/>\nRe-order Level + Re-order Quantity \u2013 (Minimum Delivery Period \u00d7 Minimum Usage)<\/p><\/blockquote>\n<p><strong>MINIMUM STOCK LEVEL:<\/strong><\/p>\n<blockquote><p>This is the level below which stocks should not be allowed to fall. It is also called buffer stock. If stocks go below this level there will be a danger of production stoppages.<\/p>\n<p><strong>FORMULA<\/strong>:<br \/>\nRL \u2013 (ADP x AU)<br \/>\nRe-Order \u2013 (Average Delivery Period \u00d7 Average Usage)<\/p><\/blockquote>\n<p><strong>RE-ORDER LEVEL:<\/strong><\/p>\n<blockquote><p>This is the point at which it is essential to initiate purchase requisition for fresh supplies of the materials.<br \/>\n<strong>FORMULA<\/strong>:<br \/>\n(MaxDP x MaxU)<br \/>\nMaximum Delivery Period x Maximum Usage<\/p><\/blockquote>\n<p><strong>RE-ORDER QUANTITY:<\/strong><\/p>\n<blockquote><p>This is also known as economic order quantity (EOQ). It is the most economic quantity to order, in other words, it is the ordering quantity at which the controllable cost of ordering is minimized.<br \/>\n<strong>FORMULA<\/strong>:<br \/>\nMaxS + RL \u2013 (MinU x MinDP)<br \/>\nMaximum stock level + Re-order Level \u2013 (Minimum Usage \u00d7 Minimum Delivery Period)<\/p><\/blockquote>\n<p><strong>AVERAGE STOCK<\/strong>: This is the average of the minimum stock level and the maximum stock level.<\/p>\n<p><strong>AVERAGE STOCK LEVEL<\/strong><\/p>\n<blockquote><p><strong>FORMULA:<\/strong><br \/>\nMaximum Stock Level + Minimum Stock Level \/ by 2<\/p><\/blockquote>\n<p><strong>AVERAGE USAGE<\/strong><\/p>\n<blockquote><p><strong>FORMULA:<\/strong><br \/>\nMaximum Usage + Minimum Usage \/ by 2<\/p><\/blockquote>\n<p><strong>AVERAGE DELIVERY PERIOD<\/strong><\/p>\n<blockquote><p><strong>FORMULA:<\/strong><br \/>\nMaximum Delivery Period + Minimum Delivery Period<\/p><\/blockquote>","protected":false},"excerpt":{"rendered":"<p>In this summary on Inventory Control, I will briefly explain the terminologies being used in this topic and also state their formulas in a way you can easily remember. NOTE: &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/hstutorial.com\/fr\/inventory-control\/\"> <span class=\"screen-reader-text\">Inventory Control Formulas and Terms +Video Guide<\/span> Lire la suite \"<\/a><\/p>","protected":false},"author":2,"featured_media":3781,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[61],"tags":[132,217,129],"class_list":["post-1346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cost-accounting","tag-accounting","tag-cost-accounting","tag-inventory-control"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v21.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Inventory Control Formulas and Terms +Video Guide - HS Tutorial<\/title>\n<meta name=\"description\" content=\"In this article, Inventory Control, I\u00a0will briefly explain the terminologies been used in Inventory Control and also state the formulas of Inventory Control in a way you can easily remember. 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