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Answered Same Day Mar 04, 2020


Ckreta answered on Mar 06 2020
144 Votes
Inventory control system
Answer 1
Inventory control system for the business of consolidated electric company
    Inventory control system encompasses of all the aspect of managing the inventory, purchase, shipping, tracking, receiving, storage and warehouse, reordering and turnover of the company. The major purpose and function of inventory control system is to use both production and marketing to increase the company profitability and to get the best out of the investment of the business. Some other functions of inventory control system are balancing the demand and supply, establishing the safety stock, improving efficiency, and geographical specialization. There are basically two main systems of inventory control; they are perpetual inventory system and periodic inventory system. Some other system of inventory control includes three bin systems, ABC inventory control system, just in time system, computerizes inventory control system, fixed order quantity, fixed period ordering and outsourcing system (Solomon, 2013).
    Consolidated electric operates through four different...

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