What are the 4 types of inventory management?

Inventory management is liable for ordering and monitoring inventory as it arrives at the warehouse. Order management is the process of receiving and tracking purchaser orders. Software regularly combines both obligations.

Inventory control performs an important function so as management. create website As orders are obtained, stock can be allotted to precise orders, after which the fame may be changed within the stock record to essentially put it “on keep” for that order. Furthermore, when the order control system and inventory gadget are integrated, the inventory machine can advise which vicinity must fulfill the order, primarily based on wherein all the gadgets within the order are to be had—this gets rid of multiple shipments for a unmarried order.

Inventory Management vs. Supply Chain Management

Supply chain control is a method of handling supply relationships outdoor a company and the drift of inventory into and via a company. Inventory management might also consciousness on developments and orders for the company or part of the employer

Inventory management is crucial for a properly strolling supply chain. Inventory management follows the drift of goods to, through and out of the warehouse. The supply chain includes demand making plans, procurement, production, first-rate, fulfillment, warehousing and customer service—all of which require stock visibility.

Inventory Management vs. Warehouse Management

Warehouse control complements stock management. Warehouse control organizes stock in a warehouse. Inventory control manages inventory and tendencies for plenty warehouses or an entire enterprise.

The key to streamlining your warehouse operations is a thoughtfully laid out and meticulously prepared facility. When each product has a specific location inside the warehouse, it prevents group of workers from shifting about inefficiently and maximizes labor performance. But those strategies are only as properly because the inventory facts that pressure them.

Learn more approximately how warehouse control and inventory control work together

Inventory Management vs. Logistics

Logistics is the exercise of controlling processes in a warehouse and within the replenishment and shipping structures. Inventory management keeps inventory ranges and manages stock location.