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.

The purpose of an inventory control system is twofold. The primary function is to ensure that a small business meets customer needs -- that products are available when customers want them. But proper ...

An inventory management system, also known as an inventory control system, is usually a software application that tracks every aspect of the items your company keeps in stock to sell. It can assist ...

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 ...