It represents whether the posting in stock is against goods receipt or goods issue. Movement type describes the type of stock posting in inventory. One normally comes across the following terms while doing inventory management − Goods movement creates a document that updates all the stock quantity and value in the inventory that is known as the material document.Ī material document is referred by a document number and document year. It includes planning, entry, and keeping records of all the movements of goods. Inventory management deals with the management of stock, either on value or quantity basis. Listed below are the points to note about inventory management − Inventory management deals with placing and handling the stock received from the vendors in correct place within the company’s premises. Once the goods are procured from a vendor, they need to be placed in the company’s premises in correct place so that they can be consumed when required. Procurement process starts with gathering requirements and ends with procuring goods from vendors.
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