inventorized and non inventorized
Could you please explaine me briefly , what is the meaning of inventorized and non inventorized.
Priyanka Paltanwale replied
the material that involves in Inventory management is called Inventorized..like for eg you can see wht inventory magmnt covers;
As a component of Materials Management, Inventory Management is directly linked with Material Requirements Planning, Purchasing, and Invoice Verification.
Inventory Management provides information for MRP, which takes into account not only physical stocks but also planned movements (requirements, receipts).
When a material is ordered from a vendor, Inventory Management posts the delivery as a goods receipt with reference to the purchase order. The vendor invoice is processed later by Invoice Verification. Here, the quantities and values from the purchase order and the goods receipt document are checked to ensure that they match those in the invoice.
And the material whihc can't be stored or stocked..is called non-inventorized...
Hope its clears...