Budgeting Essentials 07: Managing Inventory

An inventory budget is an estimate of how much money or capital a business needs to purchase inventory. In this program, we'll talk about how to create this type of budget. We'll discuss data analysis and the types of data used for inventory budgeting. We'll go over sales forecasts, bottom-up budgeting, vendor analysis, and internal inventory controls. With an in-depth analysis of these key factors, you can create an accurate budget that helps your company reach its goals.