Inventory Control is the supervision of supply, storage and accessibility of items in order to ensure an adequate supply without excessive oversupply. It can also be referred as internal control - an accounting procedure or system designed to promote efficiency / assure the implementation of a policy / safeguard assets / avoid fraud and error etc.

In today's high velocity logistics environment, end-to-end visibility (“the glass pipeline”) to inventory, assets, orders, documentation and shipments across the supply chain is essential to enterprise logistics effectiveness. Global visibility enables logistics professionals to reduce network-wide inventory levels, maximize fulfillment rates, ensure secure shipments and respond dynamically to events that occur during the execution process.

Inventory management is tasked with determining the optimal level of stocks. For instance, delivery interruptions to customers can be avoided by having the appropriate inventories of a good on hand. Without such inventories, a company can lose business. On the other hand, the inventory levels should not be too high because they can tie up capital and create a financial burden for the company. The median stock level, safety stocks and order volume play a decisive role in inventory management.

A laser-focused methodology to decreasing inventory and streamlining accounts receivable can permanently reduce working capital requirements within a few months without delaying supplier payments or alienating customers.

To make optimum use of resources such as men, material, money, machine and method, it is necessary to design an organization properly. Work should be divided and right people should be given right jobs to reduce the wastage of resources in an organization.

Accurately forecast with precision using the analytics gathered from the present-day operational process and make informed and correct choices regarding inventory & stocks.