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Inventory management is the supervision of non-capitalized assets (inventory) and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale. A key function of inventory management is to keep a detailed record of each new or returned product as it enters or leaves a warehouse or point of sale. Inventory control, a similar term, is the area of inventory management that is concerned with minimizing the total cost of inventory while maximizing the ability to provide customers with product in a timely manner. In some countries the two terms are used as synonyms. See also: logistics management

Related glossary terms: Demand signal repository (DSR) , SCEM (supply chain event management), process manufacturing, work in progress (WIP), advanced shipping notice (ASN), demand-driven manufacturing (DDM), demand flow scheduling system, supply chain planning (SCP), smart label, bar code (or barcode) Contributor(s): Brenda Cole This was last updated in September 2011 Posted by: Margaret Rouse Email Alerts Register now to receive SearchManufacturingERP.com-related news, tips and more, delivered to your inbox.

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Articles ERP warehouse management guide Inventory management software frequently asked questions (FAQ) Inventory management software helps manufacturers meet customer demand Warehouse management systems software guide ERP inventory management guide

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Latest Headlines

Demand sensing software part of Kellogg's well-balanced forecasting Manufacturing cloud computing implementation rates vary across industries SAP Rapid Deployment software a mixed bag, according to experts View All News
Featured

Business Applications Digest

Essential resources for business and IT professionals tasked with designing an effective enterprise-wide business applications strategycovering issues on cloud vs. on-premise apps, evaluation and purchase tips, implementation,upgrade best practic... Download Now! Manufacturing ERP Topics
Topics
ERP systems

Manufacturing ERP software case studies, Manufacturing ERP systems consolidation, Open source ERP and manufacturing software, Selecting ERP software for manufacturing, Manufacturing ERP modules, Manufacturing ERP risk management planning, Manufacturing ERP ROI and benefits, SaaS ERP, SaaS manufacturing, Common ERP upgrade mistakes, ERP upgrade success strategies
Integration

Manufacturing ERP data integration, Master data management for manufacturing ERP, Shop floor integration with manufacturing ERP, SOA for manufacturing ERP, Data warehousing basics for manufacturing ERP, Manufacturing ERP implementation tips
SCM

Manufacturing supply chain collaboration, Supply chain planning and execution, Supply chain management software selection for manufacturers, WMS, TMS
Lean

Lean manufacturing basics explained, Strategies for lean manufacturing success

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What is inventory management? - Definition from WhatIs.com

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BI

Manufacturing ERP and business intelligence, Manufacturing performance management software, Compliance and risk management
PLM

PLM implementation for manufacturing, Product lifecycle management software for ERP
AIDC

Barcodes, Mobile ERP, RFID and manufacturing supply chain

MES

MES selection, MES implementation

Hot Topics

ERP systems Integration SCM Tutorials

Advice & Tutorials

Green supply chain management guide Enterprise resource planning (ERP) modules guide Guide to systems integration with ERP Supply chain management (SCM) modules guide Manufacturing RFID basics Guide to business intelligence for manufacturing
Technology Dictionary

Find definitions and links to technical resources Powered by WhatIs.com Expert Advice
Tips

How warehouse automation can be tightened up with RFID How to avoid underestimating ERP costs IT Challenge: Achieving sustainability through 3PLs View All Tips
Answers

Identifying and developing an ERP interface Understanding GPS manufacturing uses Using supply chain sustainability software in green initiatives View All Answers
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