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I really love watching your videos... including this video :) Thanks for sharing this topic to all of us. Btw during pandemic Covid19 many companies revisited their inventory management. One of my client (supplying vitamin C) just recently said that he should have stored more inventories than he normally does as demands increase significantly during this period. Do you or anyone has seen the same cases or even reverse situation in which a firm should have stored less inventories instead during covid19? Much appreciated if you could share the cases with us 🙂🙏🏻
Thank you! Yes, I have read/heard some anecdotes about companies that had either not enough inventory (toilet paper in supermarkets), or too much inventory (potatoes, other food, and beer in restaurants that suddenly needed to close). One "happy" story was a merchandiser with 2020 world cup football t-shirts etc. that was very happy that even though the actual dates have been moved, the event will still be called "2020 world cup" (not "2021 world cup"), so his inventory is still useful (hopefully) next year.
@@TheFinanceStoryteller Yes.. I see on TV how people in US rushed for toilet paper in supermarket during the outbreak of corona. In my country, people rush for traditional medicinal herbs that are believed could increase body immunity :) btw I am from Indonesia. And an interesting example that you give about 2020 world cup merchandisers. Well.. we learn a lot from your inventory management video. Big thanks :)
Hi Augustus! One way of thinking through that is by journal entries.... When you buy raw material on credit from the supplier: debit inventory, credit accounts payable When you pay the invoice from the supplier: debit accounts payable, credit cash When you pay for the labor that makes the raw material into finished goods: debit inventory, credit cash So the total amount of assets stays the same, but inventory goes up and cash goes down. Does that help?
Glad you liked it, Muneeb! The related video on the broader topic of working capital management might also be of interest to you: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-c5iigcEppZw.html
Glad you enjoyed it!!!! I have a related video on the broader topic of working capital management (and the cash conversion cycle) which might be interesting for you as well: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-c5iigcEppZw.html
I am not sure I have much to say/share on that, but fortunately there are several other RU-vid channels that have made videos on stock taking.... do a search....
