An efficient inventory management system is very important for any business to keep consistent follow up of outgoing, incoming, and usage of inventory. It is very important to maintain an optimum level of inventory to be able to meet the daily requirements and avoid over or under inventory that can impact the financial figures.
Besides raw materials and finished goods, organizations also hold inventories of spare parts to service the products. Defective products, defective parts and scrap also form a part of inventory as long as items are inventoried in the books of the company and have economic value.
ITAkash has launched an Inventory Management Software (P2P) which is designed to take care of whole inventory operation and management system in the organization. It helps to maintain constant and careful evaluation of external and internal factors and control through planning and review.