In this article, we explain what an inventory system is and why it's important, and we list eight types of inventory systems so that you can choose a suitable one for an organization. Understanding what an inventory system is and learning its different types can help you experience success in the retail, manufacturing and distribution industries. Implementing an inventory system can help these businesses improve their organization, reduce costs and increase efficiency. Send us feedback about these examples.Many companies carry inventory that they need to track and maintain to conduct business. These examples are programmatically compiled from various online sources to illustrate current usage of the word 'inventory.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. 2022 The vote resulted from a new state law requiring police and sheriff's departments to inventory military-grade equipment and seek approval for their use. Bridget Alex, Discover Magazine, 19 June 2017 Or, potentially, inventory to use to address the other remaining need: A left fielder, perhaps via trade. 2022 Researchers add molecular tags that will later work like barcodes, selectively binding to DNA to inventory and find particular sequences. 2023 This period of higher rates can also prompt you to inventory all of your outstanding debt, verify the interest rates on the debt, and prioritize what should get paid off first. Kwame Anthony Appiah, New York Times, 30 Jan. 2023 This isn’t the time to inventory and assess their misdeeds. 2021 Now Murphy will be given access to the firm’s offices to inventory its files and take control of its bank accounts. Anousha Sakouistaff Writer, Los Angeles Times, Matt Walsh, interim Homer Glen village manager, said village staff and the public works employees plan to inventory the equipment and ensure that the village has enough equipment to take care of 135 miles of village roads that used to be cared for by the township. Verb Reed enough time to inventory the ammunition. Lori Weisberg, San Diego Union-Tribune, 28 Aug. 2020 For years, critics of the growing inventory of vacation rentals in San Diego’s residential neighborhoods have complained that the city has done little to enforce nuisance regulations and has been unwilling to shut down those houses that have been the target of multiple complaints to local police. 2020 The Mount Dora grow operation positions the company to have enough inventory to keep up with its expansion. 2020 Intel is also using AI algorithms to identify problems with employees working remotely and for optimizing inventory throughout its supply chain, as the pandemic caused manufacturing disruptions in China, Ms. Colin Beresford, Car and Driver, 1 Sep. 2020 Regardless, tight inventory across the industry weighed heavily. Josh Siegel, Washington Examiner, 2 Sep. 2020 Oil prices are up today after the EIA reported a crude oil inventory draw of 9.4 million barrels, compared to a decline of 4.7 million barrels the previous week. 2020 The store is in the process of liquidating its inventory from riding gear to motorcycle parts. 2020 That decline is consistent with our decline in inventory. Noun Similarly, the American Red Cross reported that demand for convalescent plasma more than doubled in July, reducing its inventory by about 70 percent.
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