You should take a physical inventory of all goods in your manufacturing business once a year. This will tell you if you are utilizing materials and finished products in a timely manner. It will also ...

Material requirements planning systems add a level of automation to inventory control. When you set minimum and maximum stock levels on a simple inventory, you are beginning to use MRP principles. MRP ...

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.

Inventory management is now considered a prime candidate for automation as manufacturers target opportunities to reduce costs, accelerate product delivery and make the most out of experienced talent.

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Effective inventory management is vital for any ...

Jennifer Simonson is a business journalist with a decade of experience covering entrepreneurship and small business. Drawing on her background as a founder of multiple startups, she writes for Forbes ...