right stock to meet customer demand while minimizing carrying costs and preventing stockouts or overstock situations.
Two primary categories of inventory control systems exist ๐ฝ๐ฒ๐ฟ๐ถ๐ผ๐ฑ๐ถ๐ฐ ๐๐๐๐๐ฒ๐บ ๐ฎ๐ป๐ฑ ๐๐ต๐ฒ ๐ฝ๐ฒ๐ฟ๐ฝ๐ฒ๐๐๐ฎ๐น ๐๐๐๐๐ฒ๐บ.
๐ฃ๐ฒ๐ฟ๐ถ๐ผ๐ฑ๐ถ๐ฐ ๐๐ป๐๐ฒ๐ป๐๐ผ๐ฟ๐ ๐๐ผ๐ป๐๐ฟ๐ผ๐น ๐ฆ๐๐๐๐ฒ๐บ:
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 organizationโs requirements and operational activities.
๐ฃ๐ฒ๐ฟ๐ฝ๐ฒ๐๐๐ฎ๐น ๐๐ป๐๐ฒ๐ป๐๐ผ๐ฟ๐ ๐๐ผ๐ป๐๐ฟ๐ผ๐น ๐ฆ๐๐๐๐ฒ๐บ
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.
Inventory control involves various techniques for monitoring how stocks move in a warehouse. Four popular inventory control methods include
๐๐๐ ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐; ๐๐ฎ๐๐ ๐๐ป, ๐๐ถ๐ฟ๐๐ ๐ข๐๐ (๐๐๐๐ข) ๐ฎ๐ป๐ฑ ๐๐ถ๐ฟ๐๐ ๐๐ป, ๐๐ถ๐ฟ๐๐ ๐ข๐๐ (๐๐๐๐ข); ๐ฏ๐ฎ๐๐ฐ๐ต ๐๐ฟ๐ฎ๐ฐ๐ธ๐ถ๐ป๐ด; ๐ฎ๐ป๐ฑ ๐๐ฎ๐ณ๐ฒ๐๐ ๐๐๐ผ๐ฐ๐ธ.
๐๐๐ ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐
Inventory control employs the ABC analysis method to categorize stocks based on their significance, price, and sales volume, influencing a companyโs stocking decisions.
As the name implies, this analysis divides items into the following groups:
A class โ Comprising expensive, high-value items requiring stringent control and limited inventory levels.
B class โ Encompassing moderately priced items of medium priority, characterized by moderate sales volume and inventory levels.
C class โ Encompassing low-value, cost-effective items with high sales figures and substantial inventory quantities.
๐๐ฎ๐๐ ๐๐ป, ๐๐ถ๐ฟ๐๐ ๐ข๐๐ (๐๐๐๐ข) ๐ฎ๐ป๐ฑ ๐๐ถ๐ฟ๐๐ ๐๐ป, ๐๐ถ๐ฟ๐๐ ๐ข๐๐ (๐๐๐๐ข)
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.
๐๐ฎ๐๐ฐ๐ต ๐๐ฟ๐ฎ๐ฐ๐ธ๐ถ๐ป๐ด:
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.
๐ฆ๐ฎ๐ณ๐ฒ๐๐ ๐ฆ๐๐ผ๐ฐ๐ธ:
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.