Inventory Control

Inventory Control

Write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. Be substantive and clear, and use examples to reinforce your ideas.

Research articles and journals to determine the following:

• What is the most effective process of executing cycle counts on a yearly basis?
• How should items to be counted be identified?
• What steps should be taken when a high-loss item has been identified prior to year-end inventory?

Be sure to provide supporting references for each question in APA format with in text citations. 3 references minimum.

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INVENTORY CONTROL

Inventory control is a methodology used mostly be business people to ensure they keep an appropriate amount of stock. Inventory control prevents overstocking or understocking, therefore, controlling costs. With this methodology, an entrepreneur is able to assess the sales hence knows what products to cut and what to increase in terms of stock, (Axsater, 2016). Using inventory control gives any business person power to control their business in terms of cutting down unnecessary costs and storage space for low selling goods. It enhances the maximum use of resources and minimum losses.

(641 words)