Techniques of Inventory Control

There are few inventory control procedures which are of importance and are there by implemented.

  1. Inventory Costing Report
  2. Economic Order Quantity (EOQ)
  3. Level setting
  4. Inventory Turnover Ratio
  5. FNSD Analysis (which indicates Fast moving items (F), Normal moving items (N), Slow moving items (S), Dead items (D).
  6. Selective Inventory Control or ABC Analysis
  7. Just In Time Listing (JIT)
  8. Perpetual Listing System
  9. VED analysis [where V stands for Vital, E for Essential, and D for Desirable Commodities)

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