Inventory Control

Inventory control, also called stock control, is the process of managing a company's inventory levels, whether that be in their own warehouse or spread over other locations. It comprises management of items from the time you have them in stock to their destination (ideally to customers) or disposal (not ideal). An inventory control system also monitors their movement, usage, and storage.

Inventory control means managing your inventory levels to ensure that you are keeping the optimal amount of each product. Proper inventory control can keep track of your purchase orders and keep a functional supply chain. Systems can be put in place to help with forecasting and allow you to set reorder points, too.

Inventory control can include:

• Barcode scanner integration
• Complete inventory counts
• Keeping track of physical inventory with sales and purchase orders
• Product details, locations, and histories
• Reports and adjustments

The general goal is to maximize your profits while the least amount of inventory possible is sitting in your warehouse. Your business must do this without compromising customer satisfaction. While you can handle inventory control manually, there are automated systems that take the responsibility of managing your stock levels and help eliminate costly human error.