Inventory control management is the practice of overseeing and managing all inventory assets across an organization. In other words, it’s a means of balancing the need for items, parts or raw materials for production with the limited resources needed to store them. It also involves accurately accounting for all inventory with accurate records, tracking and reporting, so that the company can plan, order, and use its inventory in the most cost-effective manner possible. With effective inventory control management, businesses can achieve greater profitability by reducing costs due to wastage and obsolescence, improve customer service through faster response times and reduce stock outs, as well as ensure reliable deliveries and prevent costly disruptions due to missed deadlines.