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A system that keeps track of each withdrawal or addition to inventory continuously is:

     1. A perpetual inventory system    

 2. A fixed quantity system.   

 3. A continuous inventory system.   

 4. A fixed period system.

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Question added by Wasi Rahman Sheikh , WAREHOUSE SUPERVISOR , AL MUTLAQ FURNITURE MFG
Date Posted: 2016/04/07
Shaukath Mangalore
by Shaukath Mangalore , Operations & Business Development Manager - Logistics & Supply Chain , Professional Gulf Contracting Company

A system that keeps track of each withdrawal or addition to inventory continuously, so records are always current is known as a perpetual inventory system.

Saiyid Maududi-Oracle Applications Consultant
by Saiyid Maududi-Oracle Applications Consultant , Entrerprise Architect , US Technomatrix, Inc

Hello Team,

Inventory counting systems can be periodic or perpetual. Under a periodic inventory system, a physical count of items in inventory is made at periodic intervals (e.g., weekly, monthly) in order to decide how much to order for each item. Examples are small retailers. This system allows placing orders for many items at the same time. However, there is a lack of control between reviews and there is a need to protect against shortage between review periods by carrying extra stock.

A perpetual inventory system (also known as a continual system) keeps track of removals from inventory on a continuous basis. When the amount on hand reaches a predefined minimum, a fixed quantity, Q, is ordered. The system provides continuous monitoring of inventory withdraws and the setting of optimal order quantity. However, there is added cost for record keeping and physical count is still needed to verify inventory records. Discrepancy could occur due to errors, pilferage, spoilage, and other factors. Examples are bank transactions, 7-11 stores, supermarkets, discount stores, and department stores.

Regards,

 

Saiyid

Wasi Rahman Sheikh
by Wasi Rahman Sheikh , WAREHOUSE SUPERVISOR , AL MUTLAQ FURNITURE MFG

My answer is  <<<<<<<<<<<<<<<<<<<<<<<<>>>>>>>>>>>>>>>>>>>>>.. Perpetual inventory system

MUBARAK INAYTULLA KHAN
by MUBARAK INAYTULLA KHAN , Procurement Manager , UNIT7 CONTRACTING EST. RIYADH.

1. A Perpetual inventory system. This is the perfect answer to this question.

Sathish Prabhu.V
by Sathish Prabhu.V , Manager - Operations & Process Improvement , Revolution Valves

Continuous monitoring and updating of the Inventory records are termed as perpetual inventory system

A. perpetual inventory system is keep records withdrawal or addition to inventory 

Ahmed Mohamed Ayesh Sarkhi
by Ahmed Mohamed Ayesh Sarkhi , Shared Services Supervisor , Saudi Musheera Co. Ltd.

sorry i'm not expert on this field

 

Shaikha Ali AlSowaidi
by Shaikha Ali AlSowaidi , Owner / Marketing Consultant , Marketing Consulting (Company Confidential)

This is not my area of experience or expertise. I shall let the experts tend to this query. 

Vikas Bachhuka
by Vikas Bachhuka , Sales Manager - Tire, Lubs & Batteries , ALI ALGHANIM & SONS AUTOMOTIVE CO.

a perpetual inventory system..............

Ghada Eweda
by Ghada Eweda , Medical sales hospital representative , Pfizer pharmaceutical Plc.

The correct answer is

 1. A perpetual inventory system   

Thanks for the invite I agree with the experts answers

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