An inventory control system is a system the encompasses all aspects of managing a company’s inventories; purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Material requirements planning (MRP) is a computer-based inventory management system designed to assist production managers in scheduling and placing orders for items of dependent demand. Dependent ...

The warehouse is usually a central component of getting products into customers' hands and keeping them happy. Without thoughtful organization, you risk delaying delivery to customers and creating an ...

Background At Apex Tools (fictional name), a mid-sized supplier of specialized mechanical components, inventory management and safety concerns had long been interwoven issues. As demand surged, ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. After barcodes were put into use more than 50 years ago, the technology revolutionized the ...

How do modern businesses keep track of the inventory, components and other physical assets that are essential to their businesses? The solution, traditionally, has been a manual one, requiring small ...