Inventory Management Methods: A Review

Abstract

Inventory management is the supervision of non-capitalized assets, or inventory, and stock items. As a component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves a warehouse or point of sale. Organizations from small to large businesses can make use of inventory management to manage their flow of goods. There are numerous inventory management techniques, and using the correct one can lead to providing the correct goods, at the correct amount, place and time.