Inventory management involves the control of assets and stock items belonging to a company, ensuring that levels are maintained, inventory compliance rules are upheld, budgets are observed and items are in the right place at the right time.
There is a fine line between ensuring there is an adequate amount of inventory and overstocking warehouses and stores. Shortages can lead to missed revenue opportunities, while keeping items for too long inflates insurance costs and takes up storage space.
Inventory software can be used to keep detailed records of new and returned products as they enter or leave a warehouse or point of sale.
Although its primary use involves tracking items themselves, inventory technology can also be leveraged to help monitor overheads such as insurance, stock control and storage, as well as to help companies supervise and streamline the flow of goods from manufacturers to warehouses.
The Inventory Control system from Sage BusinessWorks Accounting gives companies the tools to create controls, policies and pricing methods that are as effective and efficient as possible, offering high-end features and necessary depth.
