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. 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 ?
Request a Sample Copy of the Global Hospital Asset Tracking & Inventory Management Systems Market Research Report @ https://www.grandviewresearch.com/industry-analysis/hospital-asset-tracking-inventory-management-systems-market/request/rs1
Like many health systems, Centura Health had built an abundance of excess inventory due to outdated inventory management programs, which was tying up space in their facilities and drawing on financial resources that could be used elsewhere.
Focused on running lean operations that aren't plagued by excess inventory or hampered by wasteful processes, more logistics operations are looking at inventory turnover and trying to develop good inventory management strategies.
The course in Basic Inventory Management is available to NRHATraining Members.
The agreement includes airline inventory management, pricing, reservations, ticketing (Hitit Crane PAX), departure control (Crane DCS) and revenue accounting system (Crane RA).
Syncron's Inventory Management system provides a central approach to managing inventory, which gives companies the ability to plan across the entire supply chain to optimise and right-size inventory.
Inventory+ is an innovative and comprehensive inventory management solution that provides dealers unparalleled data insight and analytics with rich mobile and workflow capabilities.
"The workshop also covered the Basics of Supply Chain Management, the first or the entry-level module of APICS Certified in Production and Inventory Management (CPIM)."
Accenture (NYSE:ACN), a global management consulting, technology services and outsourcing company, announced on Tuesday the successful completion of a large-scale supply chain and inventory management transformation project for the Russian operations of Leroy Merlin, a do-it-yourself (DIY) retailer in Europe.
One is the investment that has been made in technology and training, and the other is inventory management. Investments there are enabling Dollar General to transition to a real-time inventory management system to replace the prior system, which involved a 24-hour delay.
Today, what's needed is a more nuanced view of inventory management ...

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