inventory control
/ɪnˈvɛntəri kənˈtrɔl/ · in.ven.tor.y con.trol
noun
- The management and tracking of goods, supplies, and equipment within an organization, typically involving the use of databases, spreadsheets, or other software to monitor stock levels and optimize inventory turnover. The company implemented an inventory control system to reduce waste and improve supply chain efficiency.
- A set of procedures and policies designed to ensure the accurate and timely tracking of inventory, including receiving, storing, and shipping goods. The warehouse manager developed an inventory control process to ensure that all shipments were properly documented and accounted for.
verb
- To manage and track the movement of goods, supplies, and equipment within an organization. The company controls its inventory by regularly counting and reconciling stock levels.
Synonyms
stock controlasset managementsupply chain managementmaterials managementwarehouse managementinventory managementstockroom managementstores management
Antonyms
Did you know? The concept of inventory control dates back to ancient civilizations, where traders and merchants used various methods to track and manage their goods, including the use of clay tablets and other forms of record-keeping.