Inventory Management System
An inventory control system is a process for managing and locating objects or materials. Inventory control system is a systematic way of handling the flow of material which is required by the department with the following features:
Asset tracking: When a product is in a warehouse or store, it should be tracked via its reference no. and/ or other tracking criteria, such as serial number, lot number or revision number.
Order management: Once products/ inventory reach a certain low level, the required system should inform the concerned person and remind to reorder that product. This feature is required to avoid running out of products or tying up too much capital in inventory by the department.
Purchase: Invoice details can be entered in the software. And then, can be allot the material according to the availability.