12 Types of Inventory Control

4 pages | 1100 words

Inventory control is a process whereby businesses manage and monitor their stock levels in order to ensure they have the right level of inventory to meet customer demand. There are various methods that can be used to control inventory, such as FIFO (first in first out), re-ordering, visual inventory control, batch sizes, and perpetual inventory control. Low inventory cost, low operating costs, and adherence to Pareto's law are some of the factors that determine the success of a business.