What Is an Asset?Īssets are resources that a company uses to run a business, manufacture items or otherwise create value. Read the article on inventory basics to learn more about the types of inventory. The four types of inventory are raw materials, work in progress, finished goods, and maintenance, repair and operations (MRO). Inventory, also called stock, is the products, raw materials, supplies or parts a company holds to sell or build new products. Asset management also deals with ensuring asset value and availability. Asset management, on the other hand, monitors items an organization uses internally, which are not for sale. One of the goals of inventory management is to find the right balance of stock to satisfy customer demand or, in a manufacturing environment, supply production lines. But inventory management focuses on the flow of items a company sells or parts it uses to make goods. In other words, inventory management and asset management both track a company’s property. Asset management tracks the equipment and supplies that a company uses to run the business. Inventory management tracks the stock that comes in and goes out of a company’s stores and warehouses. Middle East, Nordics and Other Regions (opens in new tab).United States/Canada (opens in new tab).Advertising & Digital Marketing Agencies.Advertising and Digital Marketing Agencies.