Properly managing inventory requires a system of some sort. It doesn't matter if the system consists of writing inventory levels on the back of an envelope or using the most sophisticated radio ...

An inventory control system is a system the encompasses all aspects of managing a company’s inventories; purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering.

Inventory tracking systems have developed a lot over time. Many years ago inventory tracking systems consisted of manually writing down each inventory transaction on a file card known as a cardex.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Material requirements planning (MRP) is a computer-based inventory management system designed to assist production managers in scheduling and placing orders for items of dependent demand. Dependent ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. After barcodes were put into use more than 50 years ago, the technology revolutionized the ...

Inventory management can provide significant operational benefits for power companies. From forecasting, fueled by real-time data, to automated replenishment and supply chain continuity, digital ...

How do modern businesses keep track of the inventory, components and other physical assets that are essential to their businesses? The solution, traditionally, has been a manual one, requiring small ...

The trucking industry is seeing a parts shortage. Although it started with the truck makers having trouble sourcing computer chips and other parts and components for their assembly lines, it is now ...