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Inventory Locator Service, LLC (ILS) is an American company that started the first e-Marketplace for aviation, marine, and defense industries.ILS has its headquarters in Memphis, Tennessee, United States of America; with relationships globally, especially in North America, through its parent company CAMP Systems, Inc., a subsidiary of Hearst Corporation. [1]
A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that is kept in an inventory and used for the repair or refurbishment of defective equipment/units. Spare parts are an important feature of logistics engineering and supply chain management, often comprising dedicated spare parts management systems.
Inventory may also cause significant tax expenses, depending on particular countries' laws regarding depreciation of inventory, as in Thor Power Tool Company v. Commissioner. Inventory appears as a current asset on an organization's balance sheet because the organization can, in principle, turn it into cash by selling it. Some organizations ...
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