Conclusions
Inventory monitoring and measurement is
vital for the successful operation of a modern
warehouse. It is an essential part of an organization’s
management information system.
Some key points to remember are:
• Inventory monitoring and measurement is
not the same as inventory control.
• Inventory monitoring and measurement is
much more than stock checking.
• Inventory monitoring and measurement is
concerned with warehouse management
and knowing all about the stock in the
warehouse in terms of location and time.
• Good systems monitor the process to
identify errors as they arise. Good systems
are not primarily concerned with recording
historic data.
• Information needs to be up to date. The
more quickly changes can be monitored,
the more accurate will be the measurement
of the warehouse performance.
• Rapid update of information will help
minimize errors and improve effectiveness.
• Some form of computerization, over
and above the inventory control system,
is highly desirable and the higher the level
of computerization the more the monitoring
and measurement process can be
automated.