Inventory management is a science primarily about specifying the shape and percentage of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials.<br><br>Entry of sales information. Most systems allow you to enter inventory codes either manually or automatically via a bar-code scanner. Once the inventory code is entered, the systems call up the standard or sales price, compute the price at multiple quantities and provide a running total. Many systems make it easy to enter sales manually when needed by letting you search for inventory codes based on a partial merchandise number, description, manufacturing code or vendor.<img class='aligncenter' style='display: block;margin-left:auto;margin-right:auto;' src='http://lyndamotsportfolio.synthasite.com/resources/lab%20boxes.jpg.opt422x195o0,0s422x195.jpg' width='264' alt='what is inventory management meaning'/><br><br>Finished Goods Inventory - items that are in stock and that await sale to your customer. They have completed the manufacturing <a href="http://www.confianzit.com/cit-blog/openerp-inventory-management-software/">open source warehouse management</a> process and are ready for sale. The proper management of Finished Goods Inventory is a key concern to many businesses.<br><br>This article provides an overview of the basic elements <a href="http://www.confianzit.com/cit-blog/openerp-inventory-management-software/">open source inventory management system</a> of Integrated Inventory Management and key linkages. Subsequent articles to be published on the Reliable Plant Web site ( ) will provide additional details that further explain each of the specific activities involved.<br><br>As mentioned earlier, the cornerstone of the Integrated Inventory Management model is data integrity. This by no means implies that a program cannot be started without 100 percent complete and accurate information. In fact, many of the work processes incorporate data collection, analysis and correction. However, some level of data availability is essential in order to embark on this journey.<br>