Lot control is the process of managing inventory in defined groups (or “lots”) based on common characteristics like production date, origin, or quality level. It’s similar to batch tracking but typically used in manufacturing, food, and pharma. Each lot is assigned a code and monitored through its lifecycle. For instance, a pharmaceutical brand produces a lot of 10,000 tablets under Lot #A001 and must track its distribution, shelf life, and potential recall paths.