The Ministry of Economy and Commerce announced yesterday the launch of the strategic inventory management and control system within the context of the ministry’s keenness to fortify the national economy, achieve stability in local markets and help decision-makers and officials make appropriate decisions.
According to the ministry, the electronic system - aimed at partnership between the government and the private sector - is designed and established according to the best international practices adopted in this field, to monitor and control the strategic inventory of food and consumer goods, determine the percentage of imports, identify the sources of import of strategic goods, as well as identifying the sources of the import of strategic commodities, identifying the most important companies dealing in strategic commodities, identifying the internal trade movement, monitoring the national production in the country, and carefully monitoring the strategic stocks and the efficiency of recycling in the market to maintain the quality and validity of the products.
The strategic inventory management and control system serves officials and decision-makers, institutions and departments operating in this field, private sector companies and key suppliers, and national producers.
The system provides an accurate monitoring mechanism for the country’s strategic food commodities and selected consumer goods.
The ministry has established a mechanism for the management and control of strategic stocks.
It monitors and controls the mobile inventory through outlets (such as consumer outlets), strategic stocks of goods available in suppliers’ stores (wholesalers) and national factories, General Customs, Maritime and airports, where each of these entities enters the data regarding the goods and materials available immediately in the system.
The strategic stock management and control system covers a large number of commodity groups such as rice, milk, sugar, meat, poultry, oil, milk and fodder.
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