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. Computerized inventory control systems make it possible to integrate the various functional subsystems that are a part of the inventory management into a single cohesive system.

Objectives

  • To ensure that the supply of raw material & finished goods will remain continuous so that production process is not halted and demands of customers are duly met.
  • To minimize carrying cost of inventory.
  • To reduce the losses of theft, obsolescence & wastage etc.
  • To make arrangement for sale of slow moving items.
  • To minimize inventory ordering costs.
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