Inventory control is the process of establishing and maintaining appropriate levels of reserve stock of goods.
According to L.M. Agarwal & K.C Jain, “ Inventory control is a system which ensures the provision of the required quantity of inventories of required quality at the required time with the minimum amount capital investment.”
Inventory control is the function requiring production and operations managers to balance the need to keep stock on hand to meet demand against the costs of carrying inventory.
Inventory control means balances the need for adequate stock against the costs of purchasing, handling, storing, and keeping records on it.