Inventory Control Techniques:

1. ABC Analysis:
ABC analysis categorizes inventory into three categories based on their value and importance. Category A items are high-value items that require tight control and frequent monitoring, while Category C items are low-value items that can be managed with less attention.

2. Just-In-Time (JIT):
JIT is a technique where inventory is ordered only when needed, reducing excess inventory and storage costs. This method helps in maintaining a lean inventory system and minimizing waste.

3. Economic Order Quantity (EOQ):
EOQ helps determine the optimal order quantity that minimizes total inventory costs. It considers factors like ordering costs, holding costs, and demand variability to find the most cost-effective order quantity.

4. Vendor Managed Inventory (VMI):
VMI is a practice where the supplier manages the inventory levels at the customer's location. This helps in reducing stockouts, improving inventory accuracy, and fostering collaboration between the supplier and the customer.

5. RFID Technology:
RFID technology uses radio frequency identification to track inventory in real-time. It provides accurate and up-to-date information on inventory levels, location, and movement, enabling better inventory control and management.

6. Safety Stock:
Safety stock is an extra inventory buffer kept to account for unexpected fluctuations in demand or supply chain disruptions. By maintaining safety stock, businesses can prevent stockouts and ensure customer satisfaction.