Inventory Management

Inventory Management and Inventory Control must be designed to meet the dictates of the marketplace and support the company’s strategic plan.

  • The Inventory Management system and the Inventory Control Process provides information to efficiently manage the flow of materials, effectively utilize people and equipment, coordinate internal activities, and communicate with customers.
  • Inventory Management and the activities of Inventory Control do not make decisions or manage operations.
  • They provide the information to Managers who make more accurate and timely decisions to manage their operations.