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:
“Surrealism, n. Pure psychic automatism, by which it is intended to express, whether verbally or in writing, or in any other way, the real process of thought. Thought’s dictation, free from any control by the reason, independent of any aesthetic or moral preoccupation.”
—André Breton (1896–1966)