Large companies use a variety of inventory control theories and mathematical formulas to help them optimize the production and storage of many thousands of units of products and to help them minimize ...

Effective inventory control is founded on the principle that the warehouse operator must be able to satisfy all demands for material out of inventory while keeping inventory as low as possible. To ...

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.

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Michael Boyle is an experienced ...

In machine shops, the “parts” — i.e., the raw materials, MRO supplies and equipment, works-in-progress, and the finished goods — are vital role in the success of the business. Without effective ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...