inventory

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Inventory

An itemized list of property that contains a description of each specific article.

Inventory of a company, for example, is the annual account of stock taken in the business, or the quantity of goods or materials in stock. The term is also used to describe a list made by the executor or administrator of the estate of a deceased individual.

inventory

noun catalogue, checklist, contents, enumeration, index, itemization, itemized list, list, list ofproperties, manifest, merchandise list, record, register, schedule of articles, stock book, stock list, stock sheet, tally sheet
Associated concepts: inventory of assets
See also: check, depository, enumerate, index, inspection, invoice, itemize, relate, roll, schedule, stock, store, tabulate

INVENTORY. A list, schedule, or enumeration in writing, containing, article by article, the goods and chattels, rights and credits, and, in some cases, the lands and tenements, of a person or persons. In its most common acceptation, an inventory is a conservatory act, which is made to ascertain the situation of an intestate's estate, the estate of an insolvent, and the like, for the purpose of securing it to those entitled to it.
     2. When the inventory is made of goods and estates assigned or conveyed in trust, it must include all the property conveyed.
     3. In case of intestate estates, it is required to contain only the personal property, or that to which the administrator is entitled. The claims due to the estate ought to be separated; those which are desperate or had ought to be so returned. The articles ought to be set down separately, as already mentioned, and separately valued.
     4. The inventory is to be made in the presence of at least two of the creditors of the deceased, or legatees or next of kin, and, in their default and absence, of two honest persons. The appraisers must sign it, and make oath or affirmation that the appraisement is just to the best of their knowledge. Vide, generally, 14 Vin. Ab. 465; Bac. Ab. Executors, &c., E 11; 4 Com. Dig. 14; Ayliffe's Pand. 414; Ayliffe's Parerg. 305; Com. Dig. Administration, B 7; 3 Burr. 1922; 2 Addams' Rep. 319; S. C. 2 Eccles. R. 322; Lovel. on Wills; 38; 2 Bl. Com. 514; 8 Serg. & Rawle, 128; Godolph. 150, and the article Benefit of Inventory.

References in periodicals archive ?
With the Cloud Global Inventory Management solution companies can benefit from a more effective streamlined inventory management process very quickly and easily with no great investment," Stefan Karlsson, Head of Cloud Solutions at Syncron.
Key features of an outstanding chemical inventory management system are:
These three interrelated developments make up the driving forces for networked inventory management and are explained below.
The report by TechNavio Insights forecasts the size of the Global Inventory Management Software market in retail sector 2008-2012.
TFC implements a full suite of marketing services to deliver loyalty programs, rewards marketing, point of sale distribution, direct response campaigns, color print on demand solutions and marketing inventory management and fulfillment.
Nexiant, a leading provider of MRO inventory management solutions for the industrial market, today announced that Alcoa, the world's leading producer of primary aluminum, fabricated aluminum, and alumina has selected Nexiant's Smart Inventory Manager (SIM) and Nexiant Secure point-of-use (POU) technology to improve MRO management as a key component of Six Sigma and Lean Manufacturing initiatives at its Lebanon, Virginia facility.
Through their extensive distribution network, diverse product offering and expertise in products, insurance billing, and inventory management, Rainier Surgical serves more than 300 health care providers in acute-care hospital, clinics and physician offices in Washington, Oregon, and Northern Idaho.
a leading provider of inventory management solutions for the industrial market, today announced its new company name, Nexiant, to better reflect the broad scope of MRO management solutions the company now provides the industrial marketplace.
OnviCenter Product Portfolio Integrates the Newly Acquired Technologies to Deliver Sought-After Order Processing and Fulfillment, Inventory Management and Transaction Payment Processing Applications
The article highlights NYP's success in moving towards a more perpetual model of inventory management for cardiothoracic surgery.
BOSTON -- A recent in-depth market study from Aberdeen Group, which included several customers of ToolsGroup, a leader in inventory optimization software, points to effective inventory management as a key area of untapped value.
We find that companies that are motivated to improve their inventory management can achieve very rapid returns using this technology.

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