Inventory Management

Good inventory management practice plays a crucial role in saving on the cost for a company. There are five critical tools to avoid spoilage, Dead Stock and Save storage costs.

1. First-In First-Out (FIFO)
2. FMFO
3. BIN CARD
4. Regular Auditing

  • Physical Inventory
  • Spot Checking
  • Cycle Counting

Inventory Management

  • A – high-value products with a low frequency of sales
  • B – moderate value products with a moderate frequency of sales
  • C – low-value products with a high frequency of sales