Understanding Stocks and Flows
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Our topic today then is "stock" and "flow".
Right, this is a fundamental point. I sometimes worry whether I'm labouring the point in our broadcast series by stating the obvious. This concept will provide clarity to every aspect of what you examine once you're clear on it.
A stock is the measurement of any quantity. We think immediately of stocks in retail terms - your stocks are the goods you've got on hand ready to sell. For manufacturers, stocks are the raw materials available to start manufacturing.
In the broader sense, it's…
The skinny
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