![]() ![]() Thus, self –operating or an automatic computer system is to be employed to keep track on the inventory stock and place the order in case of a shortage. This system is quite inadequate for the larger firms that deal in several product lines and maintain a heavy sales counter. Inventory control is the technique of maintaining stock-keeping items at the desired level, whether they be raw-materials, goods in process or finished products. Once the inventory in one bin is used, and the order is placed, meanwhile, the inventory from the other bin is used by the firm. Its the level of inventory that should be. Talking about the simple system, several small manufacturing firms operate a Two-Bin System wherein inventory is stored in two bins. Inventory level control is referred to as controlling the threshold of inventory to avoid delay in production. ![]() There are several inventory control systems that are in practice, and these range from simple system to a complex one depending upon nature and the size of the business operations. ABC inventory analysis involves grouping your products into three categories based on their usage valuethe total number of units sold (or used) in a given period, multiplied by the cost per unit. Following are the popular Inventory Control Systems that are being used by big manufacturers and the retail units: Inventory Control is designed to support the requisition processing, inventory management, purchasing, and physical inventory reconciliation functions of. What Is Inventory Management In tandem with strong supply and demand planning, inventory management enables supply chain organizations to effectively track stock as it moves in and out of a given warehouse or warehouses. The process of managing the companys stock to avoid shortages of stock and overstock is known as inventory control. ![]()
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