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 ...

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.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Erika Rasure is globally-recognized as a ...