Inventory Tracking System is a system for tracking goods as well as contents, or simply all those goods and even components themselves held on the market in stock by a business. Stock management, or simply inventory tracking, is a great attempt to balance inventory requirements and even needs with the should reduce bills resulting from getting and additionally carrying inventory. There are generally three simple reasons for keeping an inventory:
1.Time – The particular time lags present throughout the provide chain, from a supplier with the user at every stage, needs which you keep a certain amount of stock to incorporate with regard to this particular “lead time”.
2. Uncertainty – Inventories happen to be maintained as buffers in order to meet uncertainties in demand, supply and also movements of goods.
3. Economies of scale – Best condition of “specific unit at a time at a spot where surfer requirements it, whenever he requires it” principle tends to incur many fees with regard to terms of logistics.