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An alternative to opportunistic selective inventory projects is Kohl's (1982) assertion that circulation statistics, book search statistics, and ILL statistics can be useful tools in identifying areas as possible selective inventory areas. He writes, "areas in need of an inventory can be identified through the use of predictive data". [3]
Phantom inventory is a common expression for goods that an inventory accounting system considers to be on-hand at a storage location but are not available. [1] This could be due to the items being moved without recording the change in the inventory accounting system, breakage, theft , data entry errors or deliberate fraud .
An item whose inventory is sold (turns over) once a year has higher holding cost than one that turns over twice, or three times, or more in that time. Stock turnover also indicates the briskness of the business. The purpose of increasing inventory turns is to reduce inventory for three reasons. Increasing inventory turns reduces holding cost ...