Question

What are the key stock types (statuses) utilized in purchasing, based on usability of materials?

1) Stock in transit
2) Blocked Stock
3) Unrestricted Use

Answer 1

The key stock types utilized in purchasing based on the usability of materials are Stock in transit, Blocked Stock, and Unrestricted Use.

Step-by-step explanation:

The key stock types (statuses) utilized in purchasing, based on the usability of materials, are:

1. Stock in transit: This refers to the stock that is currently in transit between the supplier and the buyer's location. It is not yet available for use or sale until it reaches the buyer.
2. Blocked Stock: This refers to stock that is temporarily blocked from being used or sold. It may be due to quality issues, legal restrictions, or other reasons, and it cannot be accessed until the block is removed.
3. Unrestricted Use: This refers to stock that is available for immediate use or sale.