{"id":251,"date":"2024-04-05T05:46:04","date_gmt":"2024-04-05T05:46:04","guid":{"rendered":"https:\/\/www.thekgac.com\/blog\/?p=251"},"modified":"2024-04-05T07:21:35","modified_gmt":"2024-04-05T07:21:35","slug":"inventory-control-is-a-key-element-of-an-inventory-management-system","status":"publish","type":"post","link":"https:\/\/www.thekgac.com\/blog\/inventory-control-is-a-key-element-of-an-inventory-management-system\/","title":{"rendered":"Inventory control is a key element of an inventory management system."},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

right stock to meet customer demand while minimizing carrying costs and preventing stockouts or overstock situations.
Two primary categories of inventory control systems exist \ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\uddf6\ud835\uddfc\ud835\uddf1\ud835\uddf6\ud835\uddf0 \ud835\ude00\ud835\ude06\ud835\ude00\ud835\ude01\ud835\uddf2\ud835\uddfa \ud835\uddee\ud835\uddfb\ud835\uddf1 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\uddfd\ud835\uddf2\ud835\ude01\ud835\ude02\ud835\uddee\ud835\uddf9 \ud835\ude00\ud835\ude06\ud835\ude00\ud835\ude01\ud835\uddf2\ud835\uddfa.<\/p>\n\n\n\n

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The periodic inventory control system involves conducting recurring inventory counts at specific intervals. In this approach, warehouse supervisors manually tally their inventory monthly, quarterly, or annually, with the precise frequency determined by the organization’s requirements and operational activities.<\/p>\n\n\n\n

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The perpetual inventory control system offers a real-time and precise assessment of inventory levels. It relies on technology such as barcodes and Radio Frequency Identification (RFID) tags to track products.<\/p>\n\n\n\n

Inventory control involves various techniques for monitoring how stocks move in a warehouse. Four popular inventory control methods include
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Inventory control employs the ABC analysis method to categorize stocks based on their significance, price, and sales volume, influencing a company’s stocking decisions.
As the name implies, this analysis divides items into the following groups:
A class \u2013 Comprising expensive, high-value items requiring stringent control and limited inventory levels.
B class \u2013 Encompassing moderately priced items of medium priority, characterized by moderate sales volume and inventory levels.
C class \u2013 Encompassing low-value, cost-effective items with high sales figures and substantial inventory quantities.<\/p>\n\n\n\n

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Both inventory control methods manage the flow of inventory items within the warehouse according to their arrival dates, with the prioritization determined by the product types stored in the facility.
Utilizing the Last-In-First-Out (LIFO) approach, the warehouse dispatches the most recently received batch of items to customers as a priority.
Conversely, when employing the First-In-First-Out (FIFO) technique, the warehouse precedes older stocks for processing and shipping.<\/p>\n\n\n\n

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Batch tracking is also a great way of organizing stock items in a warehouse facility. This method groups goods of the same production date and materials.<\/p>\n\n\n\n

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Safety stock entails maintaining an extra inventory of goods as a precaution against market fluctuations. This quantity should exceed the average demand or utilization of the product.<\/p>\n\n\n\n

#inventory<\/a> #stock<\/a> #market<\/a> #inventorycontrol<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

right stock to meet customer demand while minimizing carrying costs and preventing stockouts or overstock situations.Two primary categories of inventory […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-251","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/posts\/251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/comments?post=251"}],"version-history":[{"count":2,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/posts\/251\/revisions"}],"predecessor-version":[{"id":258,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/posts\/251\/revisions\/258"}],"wp:attachment":[{"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/media?parent=251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/categories?post=251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thekgac.com\/blog\/wp-json\/wp\/v2\/tags?post=251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}