What is open inventory? Closed inventory?
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I majored in petroleum refining, and I really don’t understand what open inventory and closed inventory mean in the sales process. I’d appreciate it if you could help me out! If anyone knows, please explain it. Thank you in advance!
Hehe, find someone who deals with tank farm management to answer.
Closed-end inventory – Inventory with fixed future earnings, including consignment sales by Poly, collection of full payment or deposits from downstream customers, etc. Open-end inventory – Inventory with unfixed earnings, which requires close monitoring
Thank you! Is there a simpler explanation?
Closed orders refer to those that have already been sold but are still in storage, while open orders refer to those that have not yet been sold