Meter data management (MDM) refers to software that performs long-term data storage and management for the vast quantities of data delivered by smart metering systems.
Small businesses often use a stock book, or log book, to keep track of inventory. The number of inventory items is listed in one column in the book, and sales are written in another column. This allows managers to keep track of how many items have been sold. This can also be done on computer.
Inventory control software optimizes the economic order quantity (EOQ) of businesses. The EOQ is the optimal inventory a business should purchase to minimize the cost of ordering and holding. This type of software helps regulate inventory stored in the warehouse, understand how to maximize inventory layout, and ensure there's enough product to sell at every point.
