Inventory control is the process of effectively managing the items in your warehouse or store to ensure that they are available when necessary, while maximizing efficiency and minimizing costs. It involves setting a system up with parameters to track item counts, product levels, and stock availability. This system should be tailor-made to meet the needs of your business, as inventory control covers numerous factors like demand forecasting, order frequency, and ordering processes. By utilizing these basic principles of inventory control, you can ensure that you have enough of the right supplies on hand at all times without wasting time or money on stocking an unnecessary amount.