inventory control

Key Performance Indicators (KPIs) for Inventory Planning and Control

Key Performance Indicators (KPIs) for Inventory Planning and Control

Keeping inventories at the exact desired level is not an easy task. It requires coordination between purchasing, sales, forecasting and demand planning. Very high inventories guarantee demand satisfaction but incur high costs. Low inventories ensure low maintenance costs but involves…
The ABC analysis and classification

The ABC analysis and classification

The ABC analysis is one of the tools the most used in logistics and needs to be well understood. The ABC analysis, also called the ABC Classification or Pareto Theorem (named after its creator), was born when he realized that…
What is inventory management?

What is inventory management?

Inventory management, in the context of an industry, usually refers to the material resources management that can help the company generate revenue in the future. The person responsible for this part of the management is the Operations Manager. For example,…
What is inventory control? Doing more with less

What is inventory control? Doing more with less

Logistics is often visible through inventory and trucks doing transportation. Today we will talk about the importance of a good inventory control and its management, the different types of inventories and the costs that are associated with them. What is…