Inventory Control and Forecasting

Inventory control is the process of managing a company's stock of goods to ensure is available when needed, while avoiding overstock and shortages. It involves tracking inventory levels, orders, and deliveries to maintain optimal stock. Forecasting complements inventory control by using historical data and market trends to predict future demand. This helps businesses plan how much to order and when, aligning supply with customer needs. Together, effective inventory control and accurate forecasting improve efficiency, reduce costs, and enhance customer satisfaction by ensuring that the right products are available at the right time.