MRP glossary TOP > Inventory Control > Book Stocktaking
Book Stocktaking
It is a method by which the inventory quantity on the ledger sheet is obtained by only calculation based on the inventory label or inventory book where the quantity and unit cost are recorded whenever items are entered or taken from a warehouse. In contrast, the method to check that by physically counting the inventory quantity is called Physical Inventory Counts.
Related term: Stocktaking
Antonyms: Physical Inventory Counts
Related term: Stocktaking
Antonyms: Physical Inventory Counts
Reference:JIT Business Research Mr. Hirano Hiroyuki