Inventory Management is the direction and control of activities in the business with the purpose of getting the accurate inventory. These activities move in the right place at the right cost and these can be achieved in the right form including right quality.
Inventory Management is the key to any successful distribution business. A good inventory management system has always been important in the workings of an effective supply chain.
Inventory Operations as the combination of systems and processes involved with inventory management as well as the physical aspects of storage and material handling.
Keeping inventory costs down is crucial to competitive advantage. Inventory management softwaremaintain accurate inventory records.
These software provide information about the receipt and movement of goods, the sale, removal or other disposition of goods, and the precise valuation and status of goods remaining in inventory at any time.