PROFIT CENTER Definition

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PROFIT CENTER is a section of an organization that is responsible for producing profit, e.g., a division of a corporation that is not a stand-alone entity but is required to produce profits within the corporation.

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STOCKOUT is running out of inventory, e.g. the demand or requirement for an item(s) cannot be fulfilled from existing inventory.

BIN CARD is a stock status recording document for a particular material/item held in a stock room. It is for the recording of stock receipts and issues and the running balance which should be on hand.

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