Inventory Control Techniques

Inventory control techniques are methods businesses use to manage their stock effectively. These methods ensure that the right amount of products is available at the right time, minimizing costs and preventing shortages. Common techniques include Just-In-Time (JIT), which aligns inventory with production schedules to reduce excess stock; Economic Order Quantity (EOQ), which determines the most cost-effective order size; and ABC analysis, which prioritizes inventory based on importance. By using these techniques, businesses can optimize their inventory levels, improve cash flow, and enhance customer satisfaction.