What are the different classifications of inventory management?

What are the different classifications of inventory management? There are four main types of inventory: raw materials/components, WIP, finished goods and MRO. What are the five inventory inventory types? Basic types of inventory Raw materials. Work-in-progress (WIP) inventory. Finished goods. Maintenance, repair & operations (MRO) goods. Packing materials. What is meant by inventory classification? What … Continue reading What are the different classifications of inventory management?