Thursday, July 3, 2014

Inventory Control & Management

Unknown 9:55 AM 18 comments :
What is inventory?
Inventory is a stock of goods in any form such as raw materials, maintenance, repairs and overhauling items, work-in-progress and finished goods for sale.

What is Inventory Control/Management?
Inventory control /management is a science which deals with determining the right quantities ofthe stocked goods. Materials may be required at diverse locations across various locations of a supply chain/ network.

Why there’s a need of efficient inventory control/ management?
Inventory control/management isimportant to precede the planned and regular course of production aswell as stock of materials for efficient management of inventories at minimal cost.This increases functioning of business thus leading to optimal allocation of resources in the right direction, minimization of costs and maximization of profits.

What is the scope of inventory management?
Inventory management’s scope coversefficient management of various factors like-
  • ·        Replenishment lead time
  • ·        Inventory carrying costs
  • ·        Asset management
  • ·        Inventory forecasting
  • ·        Inventory valuation
  • ·        Inventory visibility
  • ·        Future inventory price forecasting
  • ·        Physical inventory verification
  • ·        Available physical space for inventories
  • ·        Quality management
  • ·        Replenishment
  • ·        Returns
  • ·        Defective goods
  • ·        Demand forecasting

The art of effective inventory control management lies in balancing all the above competing requirements efficiently to arrive at ideal inventory levels.It’s an on-going process as the firm needs to shift and respond to the changes of wider environment.

What is the objective of inventory control/ management?
Inventory control / management involves achieving twin objectives of minimizing capital blockage and at the same time ensure availability of materials as and when required. This is done by creating the right culture and using effective inventory control techniques like ABC / HML / SDE / GOLF / SOS / VED / XYZ / FSN Analysis.


All the above techniques are crucial for a company to manage 
inventories in the most efficient way. If you want to learn these important inventory control techniques in detail, then feel free to attend our expert seminar on Inventory Control Techniques which is going to be held in Mumbai and Bangalore. Our professional speaker -a renowned expert in this particular field will take you through an insightful tour of Modern Storage and Inventory Practices for enhancing the functioning of your business and profits manifold!

18 comments :

  1. UnknownApril 13, 2017 at 2:37 PM

    Nice blog.Thanks a lot for sharing this blog about Inventory Control/Management details.Happy to share this details by you.Thanks a lot.College students prefer to engage essay writers online to prepare excellent assignments.Students had to read numbers of books to come up with unique information.Essay writing is quite a challenging task, you should understand how important your essay grade is.Cheap essay writing services are available now, they can be your best friend and tutor when talking about essay help. They will provide the best possible assistance for you.

    ReplyDelete
  2. UnknownMarch 30, 2018 at 5:56 PM

    Thank you for this valuable information. I have got some important suggestions from it. Keep in blogging.Inventory Verification | Fixed Assets Audit | Vendor Reconciliation

    ReplyDelete
  3. isabellaMay 15, 2018 at 6:29 PM

    Appreciating the persistence you put into your blog and detailed
    information you provide.Thank you so much for sharing that valuable blog. Duplicate Payment Review | Continuous Transaction Monitoring
    Duplicate Payment Recovery

    ReplyDelete
  4. Laura BushJanuary 4, 2020 at 12:22 PM

    I really appreciate your work which you have shared here about the Inventory Control & Management. The article you have shared here is very informative and the points you have mentioned are very helpful. Thank you so much. If anyone looking to buy Warehouse Management Software in USA, inventtrac is the best choice.

    ReplyDelete
  5. jassibushJune 25, 2020 at 12:04 PM

    Just read your blog.Good one. I liked it.3PL WMS

    ReplyDelete
  6. michelle johnsonAugust 31, 2020 at 9:56 AM

    Obviously, is the real informative article, all guidance is recognizably genuine. Much obliged to you for this organization with us. I began to be intrigued and prompted it.3PL Warehouse Management Software

    ReplyDelete
  7. saivenkatNovember 13, 2020 at 11:49 AM

    Good Post! Thank you so much for sharing this pretty post, it was so good to read and useful to improve my knowledge as updated one, keep blogging…
    Distribution Management Software

    ReplyDelete
  8. Samet KurnazJune 24, 2021 at 9:21 AM

    instagram takipçi satın al - instagram takipçi satın al - tiktok takipçi satın al - instagram takipçi satın al - instagram beğeni satın al - instagram takipçi satın al - instagram takipçi satın al - instagram takipçi satın al - instagram takipçi satın al - binance güvenilir mi - binance güvenilir mi - binance güvenilir mi - binance güvenilir mi - instagram beğeni satın al - instagram beğeni satın al - polen filtresi - google haritalara yer ekleme - btcturk güvenilir mi - binance hesap açma - kuşadası kiralık villa - tiktok izlenme satın al - instagram takipçi satın al - sms onay - paribu sahibi - binance sahibi - btcturk sahibi - paribu ne zaman kuruldu - binance ne zaman kuruldu - btcturk ne zaman kuruldu - youtube izlenme satın al - torrent oyun - google haritalara yer ekleme - altyapısız internet - bedava internet - no deposit bonus forex - erkek spor ayakkabı - webturkey.net - minecraft premium hesap - karfiltre.com - tiktok jeton hilesi - tiktok beğeni satın al - microsoft word indir - misli indir

    ReplyDelete
  9. UnknownJuly 20, 2021 at 11:08 PM

    youtube abone satın al /n trendyol indirim kodu
    cami avizesi
    cami avizeleri
    avize cami
    no deposit bonus forex 2021
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipcialdim.com/tiktok-takipci-satin-al/
    instagram beğeni satın al
    instagram beğeni satın al
    btcturk
    tiktok izlenme satın al
    sms onay
    youtube izlenme satın al
    no deposit bonus forex 2021
    tiktok jeton hilesi
    tiktok beğeni satın al
    binance
    takipçi satın al
    uc satın al
    sms onay
    sms onay
    tiktok takipçi satın al
    tiktok beğeni satın al
    twitter takipçi satın al
    trend topic satın al
    youtube abone satın al
    instagram beğeni satın al
    tiktok beğeni satın al
    twitter takipçi satın al
    trend topic satın al
    youtube abone satın al
    takipcialdim.com/instagram-begeni-satin-al/
    perde modelleri
    instagram takipçi satın al
    instagram takipçi satın al
    takipçi satın al
    instagram takipçi satın al
    betboo
    marsbahis
    sultanbet

    ReplyDelete
  10. UnknownJuly 24, 2021 at 10:26 AM

    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    takipçi satın al
    instagram takipçi satın al
    instagram takipçi satın al
    takipçi satın al
    takipçi satın al
    instagram takipçi satın al
    instagram takipçi satın al
    instagram takipçi satın al
    instagram takipçi satın al
    takipçi satın al
    instagram takipçi satın al

    ReplyDelete
  11. UnknownAugust 4, 2021 at 8:39 AM

    takipçi satın al
    instagram takipçi satın al
    https://www.takipcikenti.com

    ReplyDelete
  12. loreatecOctober 9, 2021 at 1:11 AM

    You are giving such interesting information. It is great and beneficial info for us, I really enjoyed reading it. Thankful to you for sharing an article like this.3pl warehouse management in Osaka.

    ReplyDelete
  13. saasOctober 10, 2021 at 5:25 PM

    binance güvenilir mi
    instagram takipçi satın al
    takipçi satın al
    instagram takipçi satın al
    shiba coin hangi borsada
    shiba coin hangi borsada
    tiktok jeton hilesi
    is binance safe
    is binance safe

    ReplyDelete
  14. UnknownFebruary 7, 2022 at 10:35 PM

    tiktok jeton hilesi
    tiktok jeton hilesi
    referans kimliği nedir
    gate güvenilir mi
    tiktok jeton hilesi
    paribu
    btcturk
    bitcoin nasıl alınır
    yurtdışı kargo

    ReplyDelete
  15. UnknownApril 7, 2022 at 12:15 AM

    seo fiyatları
    saç ekimi
    dedektör
    instagram takipçi satın al
    ankara evden eve nakliyat
    fantezi iç giyim
    sosyal medya yönetimi
    mobil ödeme bozdurma
    kripto para nasıl alınır

    ReplyDelete
  16. taksiDecember 12, 2022 at 9:50 PM

    Good content. You write beautiful things.
    korsan taksi
    vbet
    hacklink
    mrbahis
    mrbahis
    sportsbet
    hacklink
    sportsbet
    vbet

    ReplyDelete
  17. Directory For PlacesMarch 16, 2023 at 1:55 PM

    https://bit.ly/directory-for-places Directory for Places is not just limited to the United States, as the platform is expanding to include destinations from around the world. This means that users can discover new and exciting places both at home and abroad, making it a truly global resource.
    A business guide provides information and guidance on various aspects of business management and ownership.

    ReplyDelete
  18. AnonymousMarch 26, 2023 at 2:49 PM

    Toptan vozol için buraya tıklayın: toptan vozol

    ReplyDelete

Subscribe to: Post Comments ( Atom )