An Inventory Control Plan is an essential part of managing business operations. It is a carefully planned strategy to maintain accurate records and proper levels of inventory, maximizing efficiency and minimizing costs. The primary goal of an inventory control plan is to prevent stockouts, minimize excess inventory, enhance customer service, and optimize profits. By setting manageable goals for inventory control, businesses can utilize tools such as reordering points, ABC analysis, cycle counting, and just-in-time delivery to ensure the right amount of product is available at the right time. Put simply, an inventory control plan allows businesses to stay ahead of the competition and maximize profitability.