STUDY ON THE NEED TO USE SEVERAL UNITS OF MEASUREMENT FOR A PRODUCT IN THE COMPANY’S INVENTORY MANAGEMENT
Management Marketing Department, Faculty of Economics University of Oradea, Oradea, Romania
horia_demian@yahoo.com
Abstract: This paper is a case study on the need to use several units of measurement for a product in inventory management system. Following this case study, it was agreed on the form of parameterization of the units of measurement and the cases that this parameterization covers. The conversion of the stock from one unit of measurement to another can be done by means of a conversion factor between the specific units of measurement of a product. The existence of this conversion factor leads to conversion errors depending on the number of decimals with which it is defined. Using multiple units of measurement for one product does not solve all the problems, but it does help to simplify certain operations that are performed at the management level.
Keywords: measurement unit; products; inventory management
