Inventory control practices are one of the best ways a company can stay organized - and is an area that companies in any industry can and should practice to ensure long-term growth. Inventory management refers to the process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items. 

Inventory is money. How well do you track your inventory “money”? Do you know where all of it is every day or are there piles of “money” just sitting in unknown locations? When dealing with dollars, we want to know where it is, how much we have, and be confident the amount is accurate. Remember, inventory is money. If you do not know where your inventory is, or how much you have with certainty, you are losing money.