Effective inventory control is founded on the principle that the warehouse operator must be able to satisfy all demands for material out of inventory while keeping inventory as low as possible. To ...

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.

Inventory planning encompasses several parts of your company's logistics and operational capabilities. Accounting gets involved with monitoring and paying for inventory, the warehousing and logistics ...

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 ...

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 ...

Getting inventories right is hard—but why? In this age of advanced technology, ERP systems, and AI, one would expect companies to leverage these tools as a competitive advantage or, at the very least, ...

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.