Companies that manufacture and sell tangible goods, or resell products from other firms, must track and manage potentially hundreds of thousands of units of inventory. Using systems to control ...

Large companies use a variety of inventory control theories and mathematical formulas to help them optimize the production and storage of many thousands of units of products and to help them minimize ...

In machine shops, the “parts” — i.e., the raw materials, MRO supplies and equipment, works-in-progress, and the finished goods — are vital role in the success of the business. Without effective ...

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.

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...