Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply.
It can also be referred as internal control - an accounting procedure or system designed to promote efficiency or assure the implementation of a policy or safeguard assets or avoid fraud and error etc.
Inventory control may refer to:
- In economics, the inventory control problem, which aims to reduce overhead cost without hurting sales
- In the field of loss prevention, systems designed to introduce technical barriers to shoplifting
It answers the 3 basic questions of any supply chain: 1. When? 2. Where? 3. How much?
Famous quotes containing the word control:
“In Vietnam, some of us lost control of our lives. I want my life back. I almost feel like I’ve been missing in action for twenty-two years.”
—Wanda Sparks, U.S. nurse. As quoted in the New York Times Magazine, p. 72 (November 7, 1993)