Inventory management or stock control: which comes first?

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Inventory management includes your supply chain, manufacturing, fulfillment, sales, and reporting, among other things. Before they can get into control, almost any company will need to set up an inventory management system. You won’t be able to manage suppliers, production, or sales otherwise.

After that, there is a wide range of options for better holding and selling your goods. It’s entirely up to you whether you prioritize purchasing, control, production, or sales. For example, based on recent operational experience, you could want to plan changes such as changing how you count stock. Alternatively, you might want to make modifications to processes to reflect changes in product and order profiles, client gains and losses, or demand fluctuations.

5 key stages of Inventory Management Process3 strategies to improve inventory management