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Inventory Management streamlines the warehouse and business activities. It ensures the warehouse has adequate products, moreover, utilizes the products efficiently. It determines which product to order and when to order, the right vendor, and the most competitive rates
What are the importance and challenges of inventory control?
Inventory control means managing your inventory levels to ensure that you are keeping the optimal amount of each product.
Proper inventory control can keep track of your purchase orders and keep a functional supply chain.
Systems can be put in place to help with forecasting and allow you to set reorder points, too.
Why keeping inventory is important?
Properly maintaining and controlling inventory allows for a range of practical and financial benefits.
It allows you to consistently meet increases in demand without having to wait for a full production cycle to finish before receiving more product. It allows you to fill orders quickly and efficiently.
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