FSN Analysis:This method sorts items into three categories: Fast-moving, Slow-moving, and Non-moving. Fast-moving items sell quickly, while slow-moving ones sell less often. Non-moving items haven’t sold within a set time. FSN analysis helps businesses focus resources and make decisions on ...
You need to count your inventory periodically to ensure it is accurate. Take into account shrinkage, damage, defects and returns to avoid errors. A retail inventory management system makes this process easier because you only need to double-check your data, rather than start from scratch. So...
ABC Analysis is an inventory management technique that a company can use for the complete chain of materials and distribution management. In other words, we may also call it SIC (selective inventory control). Under this, the inventory is categorized into three categories, namely A, B, and C,...
Inventory control is an activity to maintain adequate quantity of stock to meet the forecasted demands with minimum holding cost. Know the objectives, methods and steps involved in inventory control.