What are the objectives of inventory management?

Answer.
"Inventory Management" =) Inventory management is the active control program which allows the management of sales, purchases and payments.
Inventory management software helps create invoices, purchase orders, receiving lists, payment receipts and can print bar coded labels. An inventory management software system configured to your warehouse, retail or product line will help to create revenue for your company. The Inventory Management will control operating costs and provide better understanding. We are your source for inventory management information, inventory management software and tools.
objective of inventory management
1.Protect your company against theft - Make sure that the only people in your warehouse belong in your warehouse. Pilferage is a larger problem than most distributors realize.
2.Establish an approved stock list for each warehouse - Most dead inventory is "D.O.A" (dead on arrival). Order only the amount of non-stock or special order items that your customer has committed to buy. Before adding an item to inventory, try to get a purchase commitment from your customer. If this is not possible, inform the salesperson who requests the item that he or she is personally responsible for half the carrying cost of any part of the initial shipment that isn't sold within nine months.
3.Assign and use bin locations - Assign primary and surplus bin locations for every stocked item. All picking and receiving documents should list the primary bin location (in either characters or a bar code). With correct bin locations on documents, order picking is probably the least complicated job in your warehouse. Assign inexperienced people to this task and your most experienced warehouse workers to receiving inventory and stock management.
4.Record all material leaving your warehouse - There should be appropriate paperwork for every type of stock withdrawal. Under no circumstances should material leave the warehouse without being entered in the computer. Eliminate "no charge/no paperwork" material swaps. Product samples should be charged to a salesperson's account until they are either returned to stock or charged to the customer.
5.Process paperwork in a timely manner - All printed picking documents should be filled by the end of the day. Stock receipts should be put away and entered in the computer system within 24 hours of arrival.
6.Set appropriate objectives for your buyers - Buyers should be judged and rewarded based on the customer service level, inventory turns, and return on investment for the product lines for which they are responsible.
7.Ensure that stock balances are accurate and will remain accurate - Implement a comprehensive cycle counting program. A good cycle counting program can replace your traditional year-end physical inventory.