Inventory Control System

Question: Discuss about theInventory Control System. Answer: Introduction An Inventory Control System of an organization deals with various aspects of the production process. It deals in managing the inventories of the company in accordance with purchasing, tracking, shipping, warehousing, receiving, storage and turnover (Teller et al.). In order to manager all the functions within the system, an efficient computerized inventory control system must be taken into consideration. This system analyses all the functions related to inventory system with the help of softwares. These softwares help in analysing the situation of the organization and making it easier for them to formulate their production process. Each production step is analysed by a separate sub system and are performed in a sequential manner in order to have a well maintained inventory control (Wolfson, Grondstra, and Jarva). Efficiently managed tracking of the inventory is quite vital for the organization to maintain a successful operation. The inventory control system provides the firm with the opportunity of saving time. With the help of a computerized inventory system, the organization can easily manage their data and records without delivering any mistakes in tracking the inventories. Manually maintaining the records of the firm often leads to corrections, rectifications and complications (Bormaster). It takes time and hard work. Managing the records and data with the help of softwares overcomes these hurdles by delivering accurate results. An organization operates most efficiently when its processes are executed in a consistent manner. A computerized inventory system ensures that all the orders, reports and documents are maintained in a uniform manner, thereby maintaining consistency in the management system. Reference Teller, David M., Richard Sheryll, and Lance Ong. "Inventory control system." U.S. Patent No. 4,961,533. 9 Oct. 1990. Wolfson, William, Jan W. Grondstra, and Curt Jarva. "Inventory control system." U.S. Patent No. 4,419,734. 6 Dec. 1983. Bormaster, Ronald. "Inventory control system." U.S. Patent No. 6,967,563. 22 Nov. 2005.