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7 Types of Inventory

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Inventory are current assets that are expected to be sold by a business. The following are the common types of inventory.

Materials & Components

Inputs that will be used in the production of products and services such as the food in a restaurant's kitchen.

Work in Process

Partially finished goods waiting for completion such as a stock of bicycles waiting for tires at a bicycle factory.

Finished Goods

Goods that are ready to be sold. These may be warehoused for a period of time.

Goods in Transit

Finished goods that are in transit to your end-customer or distribution channels.

Consigned Goods

Inventory that has been delivered to your distribution partners that you still own. For example, an automobile at a car dealership that is still owned by the manufacturer.

Merchandise Inventory

Goods that have been purchased to be resold such as the goods held by an ecommerce distribution center.

Maintenance, Repair & Operating Supplies

Supplies that are consumed in the production of a product or service that aren't part of the product itself. For example, cleaning supplies and tools.
Overview: Inventory
Current assets that are expected to be sold by a business.
Related Concepts


This is the complete list of articles we have written about inventory.
Current Assets
Finished Goods
Inventory Examples
Inventory Management
Inventory Risk
Inventory Shrinkage
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Inventory Management

An overview of inventory management with examples

Inventory Risk

The common types of inventory risk.


The loss of merchandise between point of manufacturer and point of sale.

Stock Keeping Unit

An overview of stock keeping unit (SKU).

Carrying Costs

An overview of carrying costs.

Cash Conversion Cycle

An overview of the cash conversion cycle with calculation examples.


The definition of softlines with examples.

Store Operations

An overview of store operations with examples.

Business Operations

A list of business operations terms.

Field Service

A definition of field service with examples.

Capacity Strategy

The common types of capacity strategy.

Production Management

The definition of production management with examples.

Core Business

The definition of core business with examples.

IT Operations

The definition of it operations with examples.

Operations Plan

An overview of operations plans with complete examples.

Operations Planning

The definition of operations planning with examples.

Operations Management Examples

The definition of operations management with examples.

Logistics Examples

An overview of logistics with examples.

Standard Operating Procedures

An overview of standard operation procedures.
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