A Definition of Inventory Control
Inventory control, also referred to as stock control, is so broad and incorporates so many functions that it is difficult to describe in a limited definition, but we like how this Inc.com entry puts it: Inventory control refers to “all aspects of managing a company’s inventories: purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering.” Inventory control is such a critical piece of an organization’s operations and bottom line that it is too important to leave to human error or antiquated systems. That’s why so many companies opt to invest in inventory control systems, so that all of the components of inventory control are managed by one integrated system.
Advantages of Inventory Control
The ultimate goal of your inventory control should be to maximize your organization’s use of inventory. When you maintain proper inventory levels, you can rest easily knowing that your capital is not unnecessarily tied up in your inventory. If you are in manufacturing, inventory control also protects production if there are problems with bottlenecking or the supply chain.
Typical benefits of a computerized inventory control system include…
Pros of Computerized Inventory Control
If you handle several warehouse locations or need to access your inventory levels on the go, a computerized inventory control system may be right for your organization’s needs. Inventory control software solutions are more efficient than manual ones, allowing for more flexibility and an easier time retrieving information. Computerized inventory control systems allow you to quickly get a real-time glimpse into your inventory value. Other beneficial features of computerized inventory control include…
Inventory Control Best Practices
There are some best practices for inventory control that are worth considering so that you can achieve the ideal inventory levels in your organization. Modern Materials Handling gathered a panel of experts with more than 80 years of combined inventory experience to share their tips and advice for inventory control:
Our sales engineers are experts in automatic asset tracking, tagging and identification,a nd can answer all your questions. Get in touch now.
Lets Talk ›