A perpetual inventory control system tracks inventory in real-time. As soon as a product is sold, its barcode is scanned and it is removed from a global inventory database. When one is received, it is scanned and added to the inventory database. Each part of the system has access to the same database and information.
There are two key types of inventory control systems.- Perpetual inventory system. A perpetual inventory control system tracks inventory in real-time.
- Periodic inventory system. A periodic inventory system is kept up to date by a physical count of goods on hand at specific intervals.
There are two main types of inventory control systems: the periodic and the perpetual system. Choosing the right inventory control system will depend on the business type, size, and kind of inventory. This section discusses these two types in detail, covering their pros and cons, as well as what they're best for.
Business Processes
Managing inventory of perishable items including food and cosmetic products differs from managing nonperishable items such as clothing. So, to … Software Integrations
No business can manage inventory efficiently in a vacuum, so seamless integrations with e-commerce platforms, retail POS systems, vendors, shippers, 3P… Scalability
Plan for growth. Migrating data from inventory software that you’ve outgrown to a new system can stop business in its tracks. Likewise, inventory-driv… 