Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Learning how to manage inventory efficiently is critical to ...

Introduction: Why Inventory Turnover Matters More Than Ever Businesses need to optimize their inventory management because ...

FIFO (First In, First Out), LIFO (Last In, Last Out) and JIT (Just In Time) are three basic inventory methods that companies can use. It is helpful to first understand the advantages of the FIFO ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Eric's career includes extensive work in both public and corporate accounting ...

Editor’s Note: Tracey Smith is an internationally recognized business author, speaker and analytics consultant. She is the author of multiple books and hundreds of articles. Tracey has worked with and ...

Multiple inventory control methods exist including aggregate control, item level control, ABC analysis, economic-order-quantity and lot-size methods. Small companies that find it difficult to ...

An itemized list or catalog of the stock of a business There’s more to inventory control than simply buying new products. You have to know what to buy, when to buy it and how much to buy. You also ...

Opinions expressed by Entrepreneur contributors are their own. In their book Start Your Own Business, the staff of Entrepreneur Media Inc. guides you through the critical steps to starting your ...

Learning how to manage inventory efficiently is critical to any business that sells physical goods. From timely ordering of supplies to tracking and storage, any mistakes can directly impact your ...