Consumable Inventory refers to food products (consumer goods) such as coffee and tea, spices, and raw materials such as grains or vegetables. Products that are part of a process towards completion but aren’t yet finished goods or they are items used for packaging and shipping the product once it’s been made, are considered consumable inventory.
Types of Consumables Inventory
Depending on the industries, many consumable types exist. Consumables in an office setting could include things like sticky notes, printer paper, unspoiled food, and even cleaning supplies. Petrol and lumber are examples of consumables in the construction industry. This type of inventory may also refer to parts of an ultimate product that have been used or modified such as fundamental chemicals to create other things. Consumable products must be replaced frequently because they wear out.
What Is Consumable Inventory Tracking?
Consumable inventory tracking is the process of monitoring and tracking inventory. Real-time inventory availability numbers are displayed during this process. With inventory monitoring tracking, you can:
- Avoid out-of-stock concerns effortlessly
- Know the quality of consumables provided by manufacturers. Which helps in better management of inventory.
- Lastly, you can determine the precise amount of inventory and the time required to finish it.