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Inventory Management:: Types of Inventory. Raw Material
Inventory Management:: Types of Inventory. Raw Material
11.242(MMSCFD)
9,963
Inventory Management:
Basically it is a stock of anything held to meet the future demand of organization.
Types of inventory.
Raw Material:
Raw material is used by the Mid-country Refinery is the crude oil (light Arabian Crude)
Finished Goods:
Finished good of Parco Mid-country Refinery are
HOBC JP-4
LDO HSD
Fuel oils
Whenever the number of the units drawn out from the inventory stores then that point decides
whether it is a time to reorder or not. In this way inventory has been controlled.
The method of inventory control system is periodic review system. In this system the
inventory is judge periodically instead of continuously. In this system a lot of size may change
from one order to the next and the time between orders is fixed.
The two Review system above mentioned the Parco always goes for periodic review system.
It means than a lot size vary but the time between orders is fixed. As we know Parco will import
three vessels per month about carrying 64,000 metric tons each but the first vessel brought