What is an inventory system?

Answer An inventory system may refer to how a company tracks its inventory (there are two principal systems), or, may refer simply to the computerized or manual methods by which a company controls its inv... Read More »

Top Q&A For: What is an inventory system

ABC System of Inventory?

Most companies find their inventory falls under the 20-80 rule. Twenty percent of their inventory accounts for 80 percent of all sales. This creates a need to more accurately monitor the faster-mov... Read More »

Inventory System Description?

Business owners and managers often create inventory systems to help them manage the various products they sell to consumers. Companies typically have some latitude when creating their system becaus... Read More »

What is a periodic inventory system?

Inventory is usually the second-largest expense for businesses outside of payroll. Many companies develop inventory systems to accurately value and maintain their on-hand inventory items.FactsA per... Read More »

What is an inventory control system?

An inventory control system is a system that manages an organization's inventory. This includes physical inventory as well as inventory shipped, received, transferred, sold or destroyed. This syste... Read More »