Inventory control

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In today's automation revolution, we should consider a long-term plan and gradual integration of current automation tech to make a sustainable shift.

Inventory management refers to the process of overseeing and controlling the flow of goods or products in a business. It involves managing the purchasing, storing, and distribution of goods to ensure that they are available when needed, while minimizing the costs associated with inventory. Effective inventory management can help businesses maintain optimal inventory levels, prevent stockouts and overstocks, and reduce inventory carrying costs.

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Inventory management system tracks and manages your goods throughout the entire supply chain, from procurement to dispatching. Read in detail about inventory management challenges and how does ERP resolve these.

In materials management, ABC analysis is an inventory categorization technique. ABC analysis divides an inventory into three categories—"A items" with very tight control and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest controls possible and minimal records.

Inventory management is important for inventory control as it can create an impact on the bottom line. Integration can be done with other software or in this case inventory management software. Furthermore, you can get customized reports as well as per your requirements. One of the benefits of inventory management is to increase productivity and decrease unnecessary expenses. Furthermore, inventory tracking is also helpful in avoiding inventory theft.