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:
“I have not ceased being fearful, but I have ceased to let fear control me. I have accepted fear as a part of life, specifically the fear of change, the fear of the unknown, and I have gone ahead despite the pounding in the heart that says: turn back, turn back, you’ll die if you venture too far.”
—Erica Jong, U.S. author. In an essay in The Writer on Her Work, ch. 13 (1980)