Inventory & Warehousing Management
Inventory management deals with the control over inventory and stocks stored in a warehouse. As the companies practice placing new orders for the products, ship orders to head out to customers, they have to manage their inventory every day. Having knowledge about how much inventory you have, and in what quantity. Is it in the right place? At the right time? All these activities come under Inventory and Warehouse Management.
Why Inventory Management Is Important For Your Business?
One of the most valuable assets for your company is its inventory.
And managing inventory for big companies is a lot complex process. For solving the challenges of proper inventory and warehouse management, you need to keep track of all of the inventory, orders, vendors and more. A majority of big companies have different departments assigned to monitor and track inventory.
Proper inventory management serves as an important purpose to ascertain the health of the supply chain as well as the financial health of the balance sheet.