Learning how to manage inventory efficiently is critical to any business that sells physical goods. From timely ordering of supplies to tracking and storage, any mistakes can directly impact your ...

Multiple inventory control methods exist including aggregate control, item level control, ABC analysis, economic-order-quantity and lot-size methods. Small companies that find it difficult to ...

Editor’s Note: Tracey Smith is an internationally recognized business author, speaker and analytics consultant. She is the author of multiple books and hundreds of articles. Tracey has worked with and ...

FIFO (First In, First Out), LIFO (Last In, Last Out) and JIT (Just In Time) are three basic inventory methods that companies can use. It is helpful to first understand the advantages of the FIFO ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Eric's career includes extensive work in both public and corporate accounting ...

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An itemized list or catalog of the stock of a business There’s more to inventory control than simply buying new products. You have to know what to buy, when to buy it and how much to buy. You also ...

While "inventory management" sounds like it's a simple tracking of what you have, inventory management software actually goes several levels deep. The software should integrate with at least one other ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Learning how to manage inventory efficiently is critical to ...