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**Inventory Control**
#InventoryManagement #OperationsResearch #supplychain
Inventory control is a critical part of supply chain management. It involves managing the flow of goods from the supplier to the customer, ensuring that there is enough inventory to meet demand without overstocking.
There are a number of different inventory control methods, each with its own advantages and disadvantages. The best method for a particular company will depend on its specific needs and requirements.
Some of the most common inventory control methods include:
* **Just-in-time (JIT) inventory:** This method involves keeping inventory levels as low as possible, with goods only being ordered as they are needed. This can help to reduce costs, but it also increases the risk of stockouts.
* **Cycle counting:** This method involves periodically counting the inventory on hand to ensure that it is accurate. This can help to identify problems with inventory management and ensure that there is enough stock to meet demand.
* **Economic order quantity (EOQ):** This method calculates the optimal order quantity for a given product, based on the cost of ordering, holding, and carrying inventory. This can help to reduce costs and improve inventory turnover.
Inventory control is a complex and ever-changing field. As new technologies emerge, new inventory control methods are developed. It is important for businesses to stay up-to-date on the latest trends in inventory control in order to maintain a competitive advantage.
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