What Are the Key Components of an Inventory Management System?
The key components include: - Inventory Tracking Software: Uses barcodes or RFID tags to track supplies in real-time. - Automated Reordering: Ensures that stock levels are maintained by automatically placing orders when inventory falls below a certain threshold. - Data Analytics: Provides insights into usage patterns, helping to make informed purchasing decisions. - Audit Trails: Maintains a record of inventory movements for compliance and accountability purposes.
