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Inventory control , definition , systems , and management

Inventory Control Software Services, Inventory Control Systems, Inventory Software, Inventory Regulatory Systems, इन्वेंटरी सॉफ्टवेयर, इन्वेंट्री सॉफ्टवेयर - Rechnetic Systems, Pune | ID: 9076645573
inventory control

Inventory control , definition , systems , and management 

What is inventory control? Inventory control, also known as stock control, is regulating and maximizing your company's warehouse inventory.

Inventory control definition

Inventory control and inventory management seem similar. Ultimately, they both cover similar grounds, revolving around the question, "How much stock should I order ?"


These two are always used interchangeably, but they actually deal with different aspects of inventory optimization.

Inventory control involves warehouse management. This includes:
  • Barcode scanner integration
  • Report and Adjustment
  • Product Description, History and Location
  • Comprehensive inventory list and counts
  • Variants, Bundles and pics
  • Syncing stock on hand with sales orders and purchase orders
  • outbound delivery inbound delivery 
The goal of inventory control procedures is to maximize profit with minimal inventory investment, without affecting the level of customer satisfaction

Inventory management, on the other hand, is a broad term that covers how you receive, store, and receive the same benefits from raw materials and finished goods. The right stock, at the right level, at the right place, at the right time, at the right price.

Inventory control systems and management

Keep your stock under control so that you can keep a good one,
And be able to keep inventory within your warehouses for easier organization, lower costs, better cash and more space. When it comes to inventory control procedures, there is definitely less and more

 Economic order quantity (EOQ):

EOQ is the optimum inventory you should purchase to minimize the costs of ordering and holding. You’ll need to know your annual demand (D), cost per order (S), cost per unit (C), holding cost (H)
Importance of Economic Order Quantity - QS Study

Reorder point formula

Sets the correct time to order more stock. Calculating this means adding your lead time demand and safety stock together in days.

Reorder Point Formula - Know When to Reorder

Organizational control

This may sound like a simple concept, but it really makes a difference by carefully arranging your stock. This includes labeling your stock with a SKU that is easily understood and easy to read. Start with an initial stocktake and then use the perfect inventory management techniques to keep track of movements and levels.

Quality control

Quality analysis is another essential part of inventory control. Choose a supplier that has the same quality standards as you, and get lots of samples before developing a long-term relationship. Once you are your supplier, batch tracking continuously maintains your stock to the highest quality standards.

Control the future

Even with EOQ and reorder points, it is extremely difficult to forecast future demand. To avoid obsolescence and spoilage, inventory forecasts should be used to keep inventory levels low enough to match customer demands. Even big players fall prey to improper inventory forecasting.
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