What is Inventory Management?
Inventory Management is a crucial part of supply chain management. It is the process in which inventory is tracked on a regular basis to ensure that the appropriate inflow and outflow are maintained. Without it causes an increase in costs and other areas of inefficiency.
There are several steps a warehouse can take to ensure that inventory is accurate, a few of which include keeping track of lots and serial numbers, and cycle counting. By understanding and having accurate inventory data, a warehouse is able to achieve an increase in both efficiency and productivity.
Check out the video below to see Inventory Control Lead, Cassie Minter, discuss inventory management and cycle counting at our Wilmer 2 location:
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