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INVENTORY MANAGEMENT ACCOUNTING

Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.2, No. 87)

Publication Date:

Authors : ; ;

Page : 97-107

Keywords : managerial accounting; inventory; globalization; innovative technologies; sustainable development; transparency; risk management; forecasting;

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Abstract

Introduction. Modern market relations are characterized by the globalization of economic processes and high levels of competition, requiring enterprises to improve inventory management efficiency. The implementation of innovative technologies, integration of sustainable development principles, and increased transparency of inventory information are critical factors for achieving competitive advantages. These measures contribute to the optimization of accounting processes, cost reduction, and better decision-making. Moreover, managing inventory-related risks and using effective forecasting methods enhance planning accuracy and reduce uncertainty. There is a need to research and improve managerial inventory accounting considering current challenges and opportunities. Purpose. The aim of the study is to reveal conceptual approaches to inventory management, develop recommendations for implementing innovative technologies, integrating sustainable development principles, increasing transparency of information, and effectively managing risks. This will enable enterprises to adapt their managerial accounting practices to the demands of the modern market and ensure long-term stability. Special attention is given to the system for improving managerial inventory accounting. Materials and Methods. The study materials include regulatory acts and standards governing managerial inventory accounting, as well as works by domestic and foreign authors examining the impact of globalization, innovative technologies, sustainable development, information transparency, and risk management. The methods used include theoretical generalization and grouping for characterizing accounting process components, analysis and synthesis for studying examples of innovative technologies, comparison and analogy for comparing international accounting systems, forecasting and modeling for analyzing inventory forecasting methods, and logical generalization of results for formulating conclusions. Results. The scientific article reveals the impact of globalization on managerial inventory accounting, analyzes innovative technologies that can be applied for inventory management, and assesses their potential advantages and risks. It identifies how integrating sustainable development principles into managerial inventory accounting contributes to long-term enterprise stability. Proposed measures to enhance inventory information transparency and risk management improve inventory management efficiency. A comparison of international accounting systems is conducted, identifying best practices and opportunities for their adaptation. Based on the analysis, a system for improving managerial inventory accounting is developed, which includes the implementation of modern technologies, integration of sustainable development principles, increased transparency, and effective risk management. Discussion. Future research should focus on identifying and analyzing new global trends affecting managerial inventory accounting. It is important to develop advanced inventory forecasting methods and integrate circular economy principles into management processes. Such an approach will enhance inventory management efficiency and ensure sustainable enterprise development in the long term.

Last modified: 2024-12-15 23:57:01