Inventory management and inventory control are both essential components of a successful business. The difference between the two is subtle, but important to understand.

Inventory management is the process of knowing when to reorder products and make decisions about how much stock to order. It involves understanding customer demand, forecasting, stocking up on items needed, and ensuring that production can meet demand.

Inventory control focuses more on making sure that the inventory is accurate and correct at all times. This involves tracking stock accurately, controlling the flow of goods, and implementing security measures to reduce risk. It also involves reducing wastage and maintaining acceptable levels of quality for each item.

Both inventory management and inventory control are crucial for efficient operations and keeping costs low. With the right balance of both strategies, businesses can ensure consistent operations with minimal disruption.