Inventory management is the process of planning, controlling and optimizing the quantity of goods stored in stock in order to ensure uninterrupted supply and minimize storage costs. This helps to avoid both shortages and surpluses of goods, which is important for the effective operation of the business.
Key aspects of inventory management include:
- Identification and accounting of current stocks of goods by category and supplier
- Demand forecasting and procurement planning
- Inventory optimization, taking into account the speed of sales and the shelf life of goods
- Control of receipts and shipments, regular inventory
- Analysis of storage and logistics costs, search for profitable suppliers
- Implementation of automated systems for accounting and managing balances
Proper management helps to reduce storage costs, increase the turnover of goods and increase profitability.
In other words, it is a strategic and operational process that ensures a balance between assortment, inventory volumes and financial costs in the warehouse.
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