Magnitudes of Public Sector Enterprise for Policy making

Government regulate the business activities of private enterprises for direct participation in business and set up public enterprises in areas like coal industry, oil industry, steel manufacturing, banking, insurance etc. These units are not owned by Central, State or local Government, managed and controlled by them and are termed as public sector enterprises.

Business activities were occupied to individual and organizations and the government was taking care of essential services such as railways, electricity supply, postal services etc. Private sector did not take interest in areas where investment is high and profit margin is low, such as machine building, infrastructure, oil exploration etc. Industries were also focus in some region that have natural advantages like availability of raw material, skilled labour.

Public sector enterprises defined as any commercial or industrial undertaking owned and managed by the government with a view to maximize social welfare and upholds the Public interest. Public enterprises consist of nationalized private sector enterprises such as banks life insurance of India and enterprise set up by Hindustan, Gas Authority of India limited (GAIL) and State trading Corporation (STC).

During the colonial period, economic activities were limited to essential support facilitate for the maintenance and continued Growth of economy and defense such as railway transport, electricity project, ordinance factories, irrigation works, education and training Institutions.

The public sector to control certain key point in the economy such as the financial institutions for collecting saving of millions of individual and organizations making these available for investment.

By 1980s, besides traditional fields, the major banks and financial institutions, electricity undertakings, shipping, civil aviation, bus services and big enterprises in significance modern industries such as iron and steel, heavy machine building, light engineering, electronic, petroleum and Petro chemical, fertilizers, pharmaceuticals, cotton textiles and cement. The growth of investment in the central undertakings by way of contribution to share capital and long term loans. In addition, the central government had made large investment in departmentally run undertakings.

Characteristics of Public Enterprises

The public enterprises are owned and managed by the central or state Government or local authority. The government may either own the public enterprises or the ownership partly be with the government and with the private industrialists and the public. The control, management and ownership remain primarily with the government e.g, Oil and Natural Gas Corporation Limited (ONGC) and National Thermal Power Corporation (NTPC).

Public enterprises get their capital from government funds and the government has to make provision for their capital in it’s budget. Public enterprises are not move by profit motive. Their major focus on providing services or commodities at reasonable prices. GAIL Gas Authority of India and Indian Oil Corporation make available petroleum on subsidised price to the public.

Public sector enterprises concentrate on providing public utility services like transport, electricity, telecommunication etc. PE are governed by the government and are accountable to the legislature. The government rules and regulations force the Public enterprises to observe excessive formalities in their operations.

Role of Public Sector Undertaking in Public Policy

The public sector enterprises has been important role of achieving economic growth with social justice, generating larger social gains and strengthening country’s economy by removing regional disparities and promoting balanced development in different parts of the country. The impact of public sector undertaking on the regional development.

PSE through useful help and services in the development of human resources in underdeveloped areas. Investment in human capital is considered an essential ingredient of development planning. Such development is only possible if rural demographics ready to cope with modern knowledge and science & technology.

A large number of PSU have been set up in the regions or districts in order to capitalize the rural labour by equipping them with vocational education, technical training and managerial skills. The reason behind it is to transform the unemployed rural people to get self motivated and self inspired employment avenues in local areas economies.

PSU working as a vehicle of communication have taken the new learning to village and acted as agents for introducing changes in existing practices, initiating commercial use of appropriate village technologies in agriculture and allied activities, village artisan and handicrafts and local village industry by inducing use of productivity enhancing equipment and light machinery.

Improvement in economic infrastructure in the areas where policies cannot reach through PSU and active participation of PSU. Constructing and improving connection between village to make accessibility by modern means of transport, electricity for domestic use as well as for commercial and Industrial.

HOW FINANCIAL ADMINISTRATION IS CRUCIAL FOR ECONOMIC GROWTH

The management of the finance of a state or whether Public authority endowed with taxing and spending power known as Financial administration. Efficiency and economy are two watch words of Public finance. Financial administration desire to raise, spend and account for the funds needs to fulfill the Public expenditure.

It involves the activities of “four agent executive” which needs and spend funds, that grants the funds and infuse them to particular ministries and departments of the Finance Ministry, that hold the strong bond on expenditure and audit; they will decide which fund use in what manner.

Financial administration of Government depicted as two main elements such as budgeting, financial control and fiscal & monetary policies. These elements incorporate a variety of subjects like various types of budget system, parliamentary financial control, delegation of financial powers, tax policies and tax administrative problem.

Scope of financial Administration

Financial administration increasing it’s magnitude and complexity. It involves the discipline of economics, political science, commerce, management, statistics, philosophy and International Relations.

Fiscal policy, economic policy, fiscal planning, monetary policy , planning and management are parts of financial Administration. Constitutional law, financial administration, economy, socio – economic development are creating relation with Public Administration. To look at Administration of Public financial institutions and Public enterpriser. Budgeting performance and management accounting. Financial accounting and management accounting, financial auditing and management auditing are the wider version of financial Administration.

Financial administration at different levels and their interest relations at federal state and local states. Regulatory financial administration for regulating financial institutions by the private sector. Promote education, training and research in financial Administration. Ensure ethics and integrity of financial administration. Corporate Financial administration experience in developed and developing society. Financial control by the legislature, executives and judiciary.

Significance of financial Administration

Financial administration role is to ensure the economic growth of a country. It is more important for developing countries which increasing it’s socio – economic and infrastructural problems like poverty, unemployment and other economic related issues. Financial administration acquiring importance in the area of financial planning, protecting funds, improves standard of living, Allocation of funds, Economic Growth and stability and taxation planning.

Nature of Financial administration

Financial administration capture wider spectrum of development. Financial administration based on old and new economic methods that put forward the straight method for improving the economy. Financial administration conceive as a aggregate values of generation, regulation and distribution of monetary resources which is eligible for the sustenance and growth of Public organization.

Some scholars view this as traditional perspective, emphasis upon that set of Administrative functions in a public organization which relate to an arrangement of flow of funds as well as to regulating mechanism and processes which ensure proper and productive utilisation of these funds. The core of pure theory of Public finance us that Public finance should deal with the problem of Public income, Public expenditure and public debt in more practical way without any relation to a set of values and premises of the political party in power. As per to the intellectual of modern age, financial Administration is broad concept, it is an integral part of the overall management process of public administration except only raising Public funds. It discuss three important theories of Public finance i . e the socio political theory by (Wagner Edgeworth and pigou), the functional theory of Keynesian perspective and activiting view of modern Public finance theorists.

Property Rights

What Are Property Rights?

Property rights define the theoretical and legal ownership of resources and how they can be used. These resources can be both tangible or intangible and can be owned by individuals, businesses, and governments. In many countries, including the United States, individuals generally exercise private property rights or the rights of private persons to accumulate, hold, delegate, rent, or sell their property. In economics property rights form the basis for all market exchange, and the allocation of property rights in a society affects the efficiency of resource use.

Understanding Property Rights

Property is secured by laws that are clearly defined and enforced by the state. These laws define ownership and any associated benefits that come with holding the property. The term property is very expansive, though the legal protection for certain kinds of property varies between jurisdictions.Property is generally owned by individuals or a small group of people. The rights of property ownership can be extended by using patents and copyrights to protect:

Scarce physical resources such as houses, cars, books, and cellphones
Non-human creatures like dogs, cats, horses or birds
Intellectual property such as inventions, ideas, or words

Other types of property, such as communal or government property, are legally owned by well-defined groups. These are typically deemed public property. Ownership is enforced by individuals in positions of political or cultural power. Property rights give the owner or right holder the ability to do with the property what they choose. That includes holding on to it, selling or renting it out for profit, or transferring it to another party.

Acquiring Rights to a Property

Individuals in a private property rights regime acquire and transfer in mutually agreed-upon transfers, or else through homesteading. Mutual transfers include rents, sales, voluntary sharing, inheritances, gambling, and charity. Homesteading is the unique case; an individual may acquire a previously unowned resource by mixing his labor with the resource over a period of time. Examples of homesteading acts include plowing a field, carving stone, and domesticating a wild animal. In areas where property rights don’t exist, the ownership and use of resources are allocated by force, normally by the government. That means these resources are allocated by political ends rather than economic ones. Such governments determine who may interact with, can be excluded from, or may benefit from the use of the property.

Private Property Rights

Private property rights are one of the pillars of capitalist economies, as well as many legal systems, and moral philosophies. Within a private property rights regime, individuals need the ability to exclude others from the uses and benefits of their property. All privately owned resources are rivalrous, meaning only a single user may possess the title and legal claim to the property. Private property owners also have the exclusive right to use and benefit from the services or products. Private property owners may exchange the resource on a voluntary basis.

Private Property Rights and Market Prices

Every market price in a voluntary, capitalist society originates through transfers of private property. Each transaction takes place between one property owner and someone interested in acquiring the property. The value at which the property exchanges depends on how valuable it is to each party. Suppose an investor purchases $1,000 in shares of stock in Apple. In this case, Apple values owning the $1,000 more than the stock. The investor has the opposite preference, and values ownership of Apple stock more than $1,000.

Financial Literacy

What Is Financial Literacy?

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. Financial literacy is the foundation of your relationship with money, and it is a lifelong journey of learning. The earlier you start, the better off you will be, because education is the key to success when it comes to money.

Read on to discover how you can become financially literate and able to navigate the challenging but critical waters of personal finance. And when you have educated yourself, try to pass your knowledge on to your family and friends. Many people find money matters intimidating, but they don’t have to be, so spread the news by example.

Understanding Financial Literacy

In recent decades financial products and services have become increasingly widespread throughout society. Whereas earlier generations of Americans may have purchased goods primarily in cash, today various credit products are popular, such as credit and debit cards and electronic transfers. Indeed, a 2019 survey from the Federal Reserve Bank of San Francisco showed that consumers preferred cash payments in only 22% of transactions, favoring debit cards for 42% and credit cards for 29%.

Other products, such as mortgages, student loans, health insurance, and self-directed accounts, have also grown in importance. This has made it even more imperative for individuals to understand how to use them responsibly. Although there are many skills that might fall under the umbrella of financial literacy, popular examples include household budgeting, learning how to manage and pay off debts, and evaluating the tradeoffs between different credit and investment products. These skills often require at least a working knowledge of key financial concepts, such as compound interest and the time value of money. Given the importance of finance in modern society, lacking financial literacy can be very damaging to an individual’s long-term financial success.

Being financially illiterate can lead to a number of pitfalls, such as being more likely to accumulate unsustainable debt burdens, either through poor spending decisions or a lack of long-term preparation. This in turn can lead to poor credit, bankruptcy, housing foreclosure, and other negative consequences. Thankfully, there are now more resources than ever for those wishing to educate themselves about the world of finance. One such example is the government-sponsored Financial Literacy and Education Commission, which offers a range of free learning resources.

Strategies to Improve Your Financial Literacy Skills

Developing financial literacy to improve your personal finances involves learning and practicing a variety of skills related to budgeting, managing and paying off debts, and understanding credit and investment products. Here are several practical strategies to consider.

Create a Budget—Track how much money you receive each month against how much you spend in an Excel sheet, on paper, or with a budgeting app. Your budget should include income (paychecks, investments, alimony), fixed expenses (rent/mortgage payments, utilities, loan payments), discretionary spending (nonessentials such as eating out, shopping, and travel), and savings.

Pay Yourself First—To build savings, this reverse budgeting strategy involves choosing a savings goal (say, a down payment for a home), deciding how much you want to contribute toward it each month, and setting that amount aside before you divvy up the rest of your expenses.

Pay Bills Promptly—Stay on top of monthly bills, making sure that payments consistently arrive on time. Consider taking advantage of automatic debits from a checking account or bill-pay apps and sign up for payment reminders (by email, phone, or text).

Investing lesson of Peter Lynch

Peter Lynch is one of the most successful and top value investor of all time. He was a legendary fund manager who gave 29% returns to their investors for 13 years in a row. He wrote books on value investing , where he shared his investment lessons which he learned and used during his journey as an investor. He is one of the greatest value investor of all time. He is a firm believer that an average investor can also pick winning stocks as Wall Street professional with right research, patience , steady discipline and common sense.

Some of his investment principles are –

1. Invest in what you already know – “The worst thing you can do is invest in companies you know nothing about. Unfortunately buying stocks on ignorance is still a popular American pastime.” -Peter Lynch
People can perform well by investing in what they already know. For instance if a doctor wants to invest in banking sector (about which he know nothing) , he will not have that great return as compared to if he will invest in pharmaceutical companies ( as he already knew about drugs, healthcare sector and their companies)
“Invest in what you know. It leaves out the role of serious fundamental stock research. People buy a stock and they know nothing about it. That’s gambling and it’s not good.” -Peter Lynch
So, it’s better to choose the company whose products/services are either used by you or you are familier of the products/services of that company in some way or other. These knowledge will lead you to invest in better stocks .
2. Invest in companies not in stocks – “Look for small companies that are already profitable and have proven that their concept can be replicated. • Be suspicious of companies with growth rates of 50 to 100 percent a year”-Peter Lynch

Behind every stock there is a company. If companies will perform well, the stocks automatically will perform well. So, it’s important to know about the company, it’s business model. Choose a company whose fundamentals are strong. A company whose business model is so easy to understand that anyone can understand and run that company.

“Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it” -Peter Lynch

Know a companies management, it’s fundamentals and then ask yourself , “are you able to understand the mission and vision of the company? “ or “If you’ll be given the responsibility to run this company, will you be able to run the company? “
If the answers to the above questions are a YES then it’ll be great to invest in that company.
So always remember that you have to invest in a company and not in a single stock.

“Behind every stock is a company. Find out what it’s doing.” -Peter Lynch

“Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.”

3. Don’t take unnecessary risks. Take calculated risks – You don’t have to take risks which you can’t bear. Only take calculated risks.
Let’s say, you have $10 dollar, maybe if you will lost this, you won’t regret. But what if you lost $100 or $1000! Always buy stocks of the amount if you lose won’t regret. You are not required to put all your money in market and risk all that money. Instead put only that amount which if you lose won’t make you regret of investing.
Also, invest only the amount you will not need ever back in your life
4. Peter Lynch said that the most important thing that keep in mind while investing is : know why you own it.

“ You have to know what you own ,and why are you own it .” -Petrr Lynch

It sounds simple but it is not . He said when I asked most people they just don’t know why they own a stock . 80% of investors have no answer to this question .

They maybe hear some tip from anywhere and put their money at risk and when they lose it they blame institutions .
First you have to know the reason . Why you should invest in this company ,research about that company . Check their balance sheets . Without proper research you are not investing you are just gambling . Read and know as much as you can about the company. And remember to buy the company and not just a stock.

“If you’re prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won’t get bored.” – Peter Lynch

5. Invest for long time- Lynch used to hold stocks for long period of time. He used to sell the stocks when the fundamentals of any company gets changed. This is his advice for all investors out there to not go behind short term profits but invest for a long period of time.
He even conducted many studies to understand the power of compounding.

“People who succeed in the stock market also accept periodic losses, setbacks, and unexpected occurrences. Calamitous drops do not scare them out of the game.”

Some more investment lessons by Peter Lynch :

• “Never invest in any idea you can’t illustrate with a crayon .”

• “The trick is not to learn to trust your gut feelings, but rather to discipline yourself to ignore them. Stand by your stocks as long as the fundamental story of the company hasn’t changed”

• “Whenever you invest in any company, you’re looking for its market cap to rise. This can’t happen unless buyers are paying higher prices for the shares, making your investment more valuable.”

• “There’s no shame in losing money on a stock. Everybody does it. What is shameful is to hold on to a stock, or worse, to buy more of it when the fundamentals are deteriorating.”

• “Never invest in any company before you’ve done the homework on the company’s earnings prospects, financial condition, competitive position, etc”

• “Big companies have small moves, small companies have big moves.”

• “Good management, a strong balance sheet, and a sensible plan of action will overcome many obstacles, but when you’ve got weak management, a weak balance sheet, and a misguided plan of action, the greatest industry in the world won’t bail you out.”

• “In the long run, a portfolio of well chosen stocks and/or equity mutual funds will always outperform a portfolio of bonds or a money-market account. In the long run, a portfolio of poorly chosen stocks won’t outperform the money left under the mattress.”

This is how he succeed in the world of investment. You can learn from him and help yourself to reach the level you want in investment.

Thank you.

Renewable resources .

Replacing traditional sources of energy completely with renewable energy is going to be a challenging task. However, by adding renewable energy to the grid and gradually increasing its contribution, we can realistically expect a future that is powered completely by green energy.
– Tulsi Tanti

A way to live a new life . Without any destruction , without worrying about the future . Live a life where we can grow together , develop a life with renewable resources.

Introduction

A renewable resource, also known as a flow resource, is a natural resource which will replenish to replace the portion depleted by usage and consumption, either through natural reproduction or other recurring processes in a finite amount of time in a human time scale.

When such recovery rate of resources is unlikely to ever exceed a human time scale, these are called perpetual resources. Renewable resources are a part of Earth’s natural environment and the largest components of its ecosphere. A positive life-cycle assessment is a key indicator of a resource’s sustainability.

Renewable resources are an energy source that cannot be depleted and are able to supply a continuous source of clean energy.

Renewable resources also produce clean energy, meaning less pollution and greenhouse gas emissions, which contribute to climate change.

Examples of renewable resources.

Biomass .
Biogas.
Tidal Energy.
Wind Energy.
Geothermal Energy.
Radiant Energy.
Hydro Electricity.
Compressed Natural Gas.

Types of renewable resources.

1) Solar energy. Sunlight is one of our planet’s most abundant and freely available energy resources. 2) Wind energy. Wind is a plentiful source of clean energy. 3) Hydro energy.
4) Tidal energy.
5) Geothermal energy. 6) Biomass Energy.

Impact of renewable resources.

Environmental impact

Renewable energy projects have also contributed in improving environmental impacts such as reduction of carbon dioxide gas, awakening community about the climate change. The study observed very small impacts on the people living in a particular area, tourism, cost of energy supply, and educational impacts. Significant impacts were observed in improvement of life standard, social bonds creation, and community development. They also observed that the renewable energy projects are complex to install and are local environmental and condition sensitive. Their forecasting, execution, and planning require more consideration and knowledge as compared to other projects.

Social impact

These resources also provide social benefits like improvement of health, according to choice of consumer, advancement in technologies, and opportunities for the work, but some basic considerations should be taken for the benefit of humans, for example, climate conditions, level of education and standard of living, and region whether urban or rural from agricultural point of view. Social aspects are the basic considerations for the development of any country. The following social benefits can be achieved by renewable energy systems: local employment, better health, job opportunities, and consumer choice.

Advantages of renewable resources.

Renewable energy won’t run out.
Maintenance requirements are lower.
Renewables save money.
Renewable energy has numerous health and environmental benefits.
Renewables lower reliance on foreign energy sources.
Higher upfront cost.
Intermittency.
Storage capabilities.

Conclusion

Renewable energy is becoming an important resource in all over the world . I do agree that people might exploit the resources for there own benefit . But the government is working on that aspect and trying to provide resources that can help our future households .

There are a lot of different ways of building a prosperous society, and some of them use much less energy than others. And it is possible and more practical to talk about rebuilding systems to use much less energy than it is to think about trying to meet greater demands of energy through clean energy alone.

– Alex Steffen

Link

Inventory control and valuation

With the advancements and introduction of new and efficient techniques of inventory control and valuation, it is essential for every business to keep up and adopt these methods to improve their profitability and efficiency.

What is Inventory control and valuation?

Inventory control is the process of maintaining sufficient stock of raw material and ensuring the continuous process for uninterrupted production schedule. The main objective is to avoid overstocking or understocking. It is essential to do so because:

Overstocking leads to higher costs of holding the inventory
Understocking acts as a hindrance to the production process and interrupts the flow

It reduces wastage and cost by allowing the enterprise to purchase raw material economically by purchasing the exact number of units needed for production at the time.

There are two commonly used inventory control techniques- Just in time Approach (JIT) and Economic order quantity (EOQ).

Just In Time (JIT) Approach: This approach focuses on increasing efficiency and minimizing inventory. This is done by aligning the raw material orders directly with the production schedules on an as-needed basis. It ensures minimal wastage of material and reduces storage cost as well. However, it relies on steady production, high-quality workmanship and most importantly, reliable suppliers. It can be used for items that are not essential for daily production and are not needed in huge quantities. For example, machine spare parts.

Economic Order Quantity: This method focuses on determining the number of units to be purchased at one time which ultimately reduces the ordering and carrying cost of the company. Ideally, it is used when demand for a particular input is constant throughout the year. This method is ideal for placing orders for raw material that is needed in huge quantities and is a common ingredient or material required in the production of various goods.

Inventory Valuation is the process of determining the monetary value of the inventory with the company. The value is ascertained on the basis of the cost incurred to acquire to inventory and get it ready for sale.

It is essential that the value of the inventory is accurate as it-

is used to determine Cost of Goods Sold (COGS) and Gross Profit for the year.
helps in ascertaining the financial position of the company
allows companies to maintain accurate records and gives a realistic picture

There are several methods of Inventory Valuation-

First In First Out
Last In Last Out
Weighted Average Method

First In First Out: This method is based on the premise that the first inventory purchased is the first to be sold. It is one of the most common methods of inventory valuation used by businesses as it is simple and easy to understand. Unfortunately, the FIFO model fails to present an accurate depiction of the costs when there is a rapid hike in prices.

Last in First Out: Under this inventory valuation method, the assumption is that the newer inventory is sold first while the older inventory remains in stock. This method is hardly used by businesses since the older inventories are rarely sold and gradually lose their value. This results in significant loss to the business.

Weighted Average Method: Under the weighted average cost method, the weighted average is used to determine the amount that goes into the cost of goods sold and inventory. It is the most efficient method and gives a realistic picture of the inventory value.

It is essential to weigh the pros and cons of the inventory valuation and control methods mentioned above and choose the ones that would give the most realistic and accurate picture of the company’s inventory according to the nature of the business operations.

SEBI: Securities and Exchange Board of India

The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the jurisdiction of Ministry of Finance , Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.

Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market. It became an autonomous body on 30 January 1992 and was accorded statutory powers with the passing of the SEBI Act 1992 by the Indian Parliament. SEBI has its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad respectively. It has opened local offices at Jaipur and Bangalore and has also opened offices at Guwahati, Bhubaneshwar, Patna, Kochi and Chandigarh in Financial Year 2013–2014.

The SEBI is managed by its members, which consists of the following:

*The chairman is nominated by the Union Government of India.
*Two members, i.e., Officers from the Union Finance Ministry.
*One member from the Reserve Bank of India.
*The remaining five members are nominated by the Union Government of India, out of them at least three shall be whole-time members.

SEBI has to be responsive to the needs of three groups, which constitute the market:

*issuers of securities
*investors
*market intermediaries

SEBI has three powers rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. Though this makes it very powerful, there is an appeal process to create accountability.

Ecommerce in India!

So let’s have a look that what does ecommerce mean~ E-commerce is the activity of electronically buying or selling of products on online services or over the Internet.

And if we talk about “Ecommerce in India” then, India has an Internet user base of about 696.77million as of May 2020, about 40% of the population. In 2017, the largest e-commerce companies in India were Flipkart, Snapdeal and Amazon. In 2018, Amazon beat Flipkart and was recorded the biggest ecommerce in India in terms of revenue. And it’s rapidly growing up day by day.

In India, cash on delivery is the most preferred payment method, accumulating 75% of the e-retail activities. Demand for international consumer products (including long-tail items) is growing faster than in-country supply from authorised distributors and e-commerce offerings. Long tail business strategy allows companies to realize significant profits by selling low volumes of hard-to-find items to many customers, instead of only selling large volumes of a reduced number of popular items. The term was first coined in 2004 by Chris Anderson.

In 2017, the largest e-commerce companies in India were Flipkart, Snapdeal and Amazon. In 2018, Amazon beat Flipkart and was recorded the biggest ecommerce in India in terms of revenue.

And some of the ecommerce sites are:

1. Amazon.in

2. Flipkart

3. Snapdeal

4. ebay India

5. IndiaMART

6. Shopclue

And so on…

But one should properly check the product and should take a clear look in the mind that this product is the only one which I want to purchase and they’ve can go on but inspection of the product must be the first priority of the customer.

Types of inventory

Raw materials are inventory items that are used in the manufacturer’s conversion process to produce components, subassemblies, or finished products. These inventory items may be commodities or extracted materials that the firm or its subsidiary has produced or extracted.

Work-in-process (WIP) is made up of all the materials, parts (components), assemblies, and subassemblies that are being processed or are waiting to be processed within the system.

A finished good is a completed part that is ready for a customer order. Therefore, finished goods inventory is the stock of completed products. These goods have been inspected and have passed final inspection requirements so that they can be transferred out of work-in-process and into finished goods inventory.

Transit inventories result from the need to transport items or material from one location to another, and from the fact that there is some transportation time involved in getting from one location to another. Sometimes this is referred to as pipeline inventory.

Buffer inventory used to protect against the uncertainties of supply and demand, as well as unpredictable events such as poor delivery reliability or poor quality of a supplier’s products. These inventory cushions are often referred to as safety stock. Safety stock or buffer inventory is any amount held on hand that is over and above that currently needed to meet demand.

Anticipation inventory is when , firms will purchase and hold inventory that is in excess of their current need in anticipation of a possible future event. Such events may include a price increase, a seasonal increase in demand, or even an impending labor strike.

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Introduction

Impact of renewable resources.

Conclusion

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What is Inventory control and valuation?

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