Dual Bin Inventory Management is a system used to determine when items or materials used in production need to be replenished.
When the items in the first basket run out, an order is placed to replace them. While waiting, items from the second basket are used.
Two-bin inventory management is almost always used for small or low value items that can be easily purchased and stocked in bulk.
Cart cards and shop ledger cards are used for inventory accounting.
The dual container inventory management system ensures that companies mitigate inventory risks and always have the right inventory level to meet demand.
Accountability is the acceptance of responsibility for one’s actions. This implies a willingness to be transparent, allowing others to observe and evaluate their work.
Accounting policies are the procedures a company uses to prepare financial statements. Unlike accounting principles, which are rules, accounting policies are the standard for following those rules.
Acquisition accounting is a set of formal guidelines describing how the acquirer should report the assets, liabilities, non-controlling interests and goodwill of the acquired company.
Performance Based Management (ABM) is a means of analyzing a company’s profitability by looking at every aspect of its business to determine its strengths and weaknesses.