An inventory control system is a system the encompasses all aspects of managing a company’s inventories; purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering.

In a time of extreme unpredictability, companies need to centralize inventory control. It’s imperative to drive agile decision-making by consolidating data across the network, employing advanced ...

Inventory is a major asset on a small business's balance sheet and can tie up the often-limited capital resources for various periods. Effective inventory management control requires businesses to ...

When you started your business, you likely had goals and dreams of running the perfect business. It would have all the must-have items, excellent customer service and quick shipping, all wrapped up ...

In machine shops, the “parts” — i.e., the raw materials, MRO supplies and equipment, works-in-progress, and the finished goods — are vital role in the success of the business. Without effective ...

Properly managing inventory requires a system of some sort. It doesn't matter if the system consists of writing inventory levels on the back of an envelope or using the most sophisticated radio ...

Inventory management is the process of tracking where your products are at all times and when to order more. These techniques can improve your inventory management process, independent of software.

Proper inventory management is the backbone of successful businesses, preventing stockouts or excess stacks. It ensures a smooth supply chain, providing materials for operations. This critical ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...