And for them tracking inventory that monitors each component is essential. What type of tracking inventory do I need for my items (for example serial, batch, or lot numbers)?Ī manufacturer’s inventory consists of components, raw materials and finished goods products. Generally speaking:Assets = what you own, Inventory = what you sell (or consume) Inventory Stock Control is what Seller Dynamics Offers. But while both asset and inventory management systems involve tracking items, the difference between inventory management and asset tracking lies in how those items are tracked and - more importantly - why they are tracked.>p>
Both types of solutions are focused on improving resource optimization and reducing costs. Stock control prevents overselling - a massive no-no, yet allows a tight enough management on qty etc to maximise the sales channel to sell the stock on.Īsset tracking and inventory management are terms that are sometimes used interchangeably, but there are critical differences between these functions and the software used to improve each of these applications. Stock control is generally what most businesses need - particularly the marketplace sellers / businesses we deal with. What type of inventory system do I need (for example asset tracked or stock control)? When choosing your inventory management software system, think about these considerations…
What Should I Ask of My Inventory Management System? What To Look For In a Powerful Inventory Management SystemĪll business management systems have their limits, not least of which is human error from incorrect input.Well managed inventory controls build solid foundations so business management has precedence.
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