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Explain the various inventory control methods. |
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Answer» uesby Casandra CampbellInventory ManagementApr 7, 2017 7 minute read31 commentsEmail Pinterest Facebook TWITTER LinkedInI used to dread the word “inventory”. As a part-time cashier in high SCHOOL, the word inventory only meant one thing: lots and lots of counting. It’s common for businesses to reconcile their inventory at the END of the year by counting up all their physical product and making sure it matches what's on the books. For big COMPANIES like the one I used to work for, this requires everyone's help.These days, I understand just how important solid inventory management is. Inventory is a PLACEHOLDER for money. You paid money for it, and you’ll get that money back (and then some) when you sell it.Why Inventory Management Is ImportantHolding inventory ties up a lot of cash. That's why good inventory management is crucial for growing a company. Just like cash flow, it can make or break your business |
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