What are the advantages and disadvantages inventory management?

Answer 1

The strengths and weaknesses of inventory control depend on the type of control system. If it is a manual control system, a strength is that every item in the system is checked by a real person instead of counted by a machine. A weakness would be the same - human error.

Answer 2

The advantages are: (1) You know your stock levels; (2) You can conduct stock rotation; (3) You can optimise and reduce stock of items that don't move that quickly; (3) You can move you quick moving items to the front thereby speeding up picking; (5) You can quick identify items that are not moving that you can remove from your inventory. The disadvantages: (1) It doesn't stop staff stealing stock, (2) It can waste a lot of effort if not implemented and maintained correctly: (3) It doesn't replace incompetent management; (4) It can be very expensive and the return on investment can take a long time; (5) It requires a lot of staff training and you may loose some staff on the way.