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why are perpetual inventory systems so much more popular today than in the early 1960s and earlier? Why would a company employing a perpetual inventory system still take a physical inventory
periodically?
In business, the inventory system is how you keep track of your goods and materials. [ [ This is an essential part of your business, as good inventory management can make or break a business! If you?re not properly keeping track of your inventory, you?re not maximizing your profit. You also run the risk of running out of cash since you are paying suppliers before you get paid by customers ? in
most cases the cash conversion cycle is not in your favor.There are two main types of inventory systems, the perpetual inventory system and the periodic inventory system. The main difference between the two systems is how often inventory data is updated. We discussed the periodic system in a previous post. Today we are going to discuss the perpetual inventory system.The perpetual inventory method is one in which inventory data is updated continuously. When an order is placed or received, that data immediately is entered into the system to update the quantity and inventory availability right away. This is where the term perpetual comes from. Data is entered perpetually, or continuously, as opposed to the periodic system, where data is updated according to a set interval of time. ]
Expert answered|uxiali|Points 745|
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Asked 10/28/2012 3:15:22 PM
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