[6][7] The inventory control system allows for companies to assess their current state concerning assets, account balances, and financial reports.
[11][12] Typical features of this type of software include:[9][12] Through this functionality, a business may better detail what has sold, how quickly, and at what price, for example.
The control of inventory involves managing the physical quantities as well as the costing of the goods as it flows through the supply chain.
[2] This management involves tracking field inventory throughout the supply chain, from sourcing to order fulfilment.
[2] Inventory control is the process of managing stock once it arrives at a warehouse, store or other storage location.
It is solely concerned with regulating what is already present, and involves planning for sales and stock-outs, optimizing inventory for maximum benefit and preventing the pile-up of dead stock.
VMI gives the vendor in a vendor/customer relationship the ability to monitor, plan and control inventory for their customers.
Customers relinquish the order making responsibilities in exchange for timely inventory replenishment that increases organizational efficiency.