Optimisation of accounting model of inventory management in the textile industry

Abstract

The supply system consists of several elements, which in their characteristics are distinguished in the overall structure of the supply system. They are defined uniquely in accordance with the function they perform, and in reality they appear at all levels of the budget system organization. Functioning of the supply system is possible only with the existence of certain inventories or reserves of material assets. The stocks represent the prescribed and determined quantities of material assets stored in the warehouses in order to ensure the normal functioning of the institutions. Using the supplies management accounting model in textile industry is providing a continuous provision of equipment. This is essential to reach the adequate level of competence, which is in line with autonomous budget financing companies. Taking into account the specificity of the institutions, with an emphasis on the quality of the equipment, there is also the possibility for savings in maintaining them. The aim of this paper is to present how the inventory management accounting system can optimize costs in the textile industry due to the full satisfaction of the optimal supply criterion.