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What (who) is inventory observation - definition

INVENTORY MANAGEMENT METHOD

Supplier Managed Inventory; Vendor Managed Inventory; Vendor managed inventory

Inventory valuation

ACCOUNTING METHODS USED IN DETERMINING THE VALUE OF INVENTORY

Beginning Inventory; Inventory Costing; Inventory costing; Inventory valuation adjustment; Inventory cost

An inventory valuation allows a company to provide a monetary value for items that make up their inventory. Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements.

https://en.wikipedia.org/wiki/Inventory_valuation

Inventory theory

MATHEMATICAL STUDY CONCERNED WITH THE DESIGN OF INVENTORY SYSTEMS

Inventory control problem; Inventory model; Inventory models

Material theory (or more formally the mathematical theory of inventory and production) is the sub-specialty within operations research and operations management that is concerned with the design of production/inventory systems to minimize costs: it studies the decisions faced by firms and the military in connection with manufacturing, warehousing, supply chains, spare part allocation and so on and provides the mathematical foundation for logistics. The inventory control problem is the problem faced by a firm that must decide how much to order in each time period to meet demand for its products.

https://en.wikipedia.org/wiki/Inventory_theory

Inventory turnover

MEASURE OF THE NUMBER OF TIMES INVENTORY IS SOLD OR USED IN A TIME PERIOD

Inventory turns; Inventory Turns; Turnover ratio; Inventory Turnover; Inventory turnover ratio; Stock turnover

In accounting, the inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. It is calculated to see if a business has an excessive inventory in comparison to its sales level.

https://en.wikipedia.org/wiki/Inventory_turnover

Wikipedia

Vendor-managed inventory

Vendor-managed inventory (VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor.

Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the order size, whereas in traditional inventory management, the retailer (sometimes called distributor or buyer) makes his or her own decisions regarding the order size. Thus, the vendor is responsible for the retailer's ordering cost, while the retailer usually acquires ownership of the stock and has to pay for their own holding cost. One supply chain management glossary identifies VMI as

The practice of retailers making suppliers responsible for determining order size and timing, usually based on receipt of retail POS and inventory data.

although a 2008 article notes that there is no standard definition of VMI and the term's usage varies "significantly" among companies supporting VMI processes.

A third-party logistics provider may also be involved to help ensure that the buyer has the required level of inventory by adjusting the demand and supply gaps.

https://en.wikipedia.org/wiki/Vendor-managed inventory