Tally Questions & Answers Series - 22

03.01.22 11:45 AM By eStaar
1. What does it mean to be a Supplier?

A Supplier is a person, business, or organization that sells or provides goods or services to customers.


2. What are the different types of Suppliers?

Manufacturers, Distributors, Importers, Traders (Wholesaler, Retailer)


3.List out the Inventory Management Terminologies?

•Stock Item (Raw Materials, Work in Progress, Finished Goods) 

•Godown (Warehouse)

•SKU (Stock Keeping Units)

•Safety Stock (Buffer Stock)

•Reorder Level (Inventory Level)

•Price List

•Manufacture & Expiry Date (Perishable Goods)

•Dead Stock (Unsalable Goods)

•Stock/Inventory Valuation Methods

•Cost of Goods Sold (Starting inventory + purchases − ending inventory)