Inventory Management System

             Inventory management helps companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage.

            Inventory management is vital to a company’s health because it helps make sure there is rarely too much or too little stock on hand, limiting the risk of stockouts and inaccurate records.

How Inventory Management Works

             The goal of inventory management is to understand stock levels and stock’s location in warehouses. Inventory management software tracks the flow of products from supplier through the production process to the customer. In the warehouse, inventory management tracks stock receipt, picking, packing and shipping.

Benefits of Inventory Management

             The main benefits of inventory management are that it ensures you’re able to fulfill incoming or open orders and raises profits.

  • Saves Money
  • Improves Cash Flow
  • Satisfies Customers

Inventory Management vs Logistics

             Logistics is the practice of controlling processes in a warehouse and in the replenishment and delivery systems. Inventory management maintains stock levels and manages stock location. Inventory management is a crucial part of how companies manipulate their logistics. The relationship between inventory management and logistics is interdependent. Logistics need inventory management to perform their activities. Good logistics systems improve warehouse and operational activities.