Types of inventory control systems- Perpetual and Periodic Inventory System
Inventory control systems are the best technology solutions to track inventory tasks such as shipping, purchasing, receiving, warehouse storage, tracking, and reordering. Inventory control systems help to increase the productivity and efficiency of a particular organization. Through inventory management systems we can optimize the business on a regular basis. It is said, there are four types of inventory control systems are available in the market. Perpetual Inventory System Periodic Inventory System Barcode Inventory Systems Radio Frequency Identification Inventory Systems If you ever will see the perpetual inventory system, it continually updates the records and accounts for the addition and subtractions when inventory items are received, picked from inventory, sold from stock, and many other such types of activities. There are many challenges associated with perpetual inventory systems. Periodic Inventory systems do not track inventory on a