Inventory Control in Production Planning

Inventory control in production planning involves managing the quantities of raw materials, work-in-progress, and finished goods to ensure that a business can meet customer demand without overstocking or understocking. It helps maintain the right balance between having enough products available and minimizing costs associated with holding excess inventory. Effective inventory control uses strategies like forecasting demand, monitoring stock levels, and implementing reorder points, ensuring a smooth production process and efficient use of resources while maximizing profitability and customer satisfaction.