What is inventory management? Basically, inventory management is the process of keeping your parts, products, and assets organized across all of your warehouses. It involves numerous tasks, such as keeping track of the number of items in stock, reordering them from time to time, monitoring their movement from one location to another, and more.
Also encapsulating warehouse management, inventory management is extremely useful at maximizing your warehouse space and speeding up the receiving, picking, packing, and shipping processes. It keeps your inventory quantities balanced so you will have enough on hand to meet demand without going overboard and winding up with an unnecessary overstock. (more…)