Inventory control handles products that are already in stock at the warehouse and plays a key role in supply chain management. Inventory control tools can categorize products by type, location and SKU (or serial number), audit data, generate reports in real-time and search, filter and view products. For more on inventory control methods, including expert advice, see our “Essential Guide to Inventory Control.”

Inventory management features govern the data from other parts of the system, like inventory control. That’s not all; inventory management also handles business processes that occur before the stock arrives at a warehouse and how the inventory reaches other destinations. These features include tools for multi-location warehouse management and integrations with other software or enterprise resource planning (ERP) platforms (for example, generating paperless invoices and purchase orders). Learn more about inventory management and how it differs from inventory control.

To implement inventory controls, you need to track the status of products and materials in the supply chain. Perpetual inventory tracking features help automate manual tasks. For example, the system automatically generates a tracking number when it creates a receipt or invoice. Tracking integrations with third-party logistics (3PL) providers combined with an email solution lets businesses better manage customer relationships by sharing what’s in stock or shipping times.

Take inventory planning to a higher level with inventory optimization. Add sophistication to a basic inventory plan. Instead of standard ordering formulas and a basic ordering process, you can use tools that provide automated reports, inventory trends and a view of changes across the entire supply chain. This information enables a closer match in supply and demand so you can optimize the inventory on-hand. See the inventory forecasting guide to learn more.

Various modules trigger inventory alerts that help reduce waste, optimize inventory financials and manage customer expectations. These features include automated email or SMS messages that alert you to low inventory levels and shipment and supply chain delays. Inventory alerts offer an added level of operational control for sales forecasting, materials planning, shipping logistics and supplier management.

These modules automate financial and accounting activities like accounts payable and receivable, procurement and third-party payments, and they categorize revenue.

These admin-like modules provide fast, simple tools for managing inventory system data like connecting users via passwords, updating inventory records and exporting data.