Inventory management is the process of overseeing the flow of goods from suppliers to warehouses and retail locations, as well as goods being purchased by customers. It involves tracking inventory levels, orders, sales and shipments.
DurationInventory management is the process of efficiently overseeing the levels of products that a business keeps on hand. It aims to balance having enough products to meet customer demand while avoiding excess inventory that could tie up funds or become obsolete.
Effective inventory management requires monitoring stock levels, sales patterns, and replenishment needs to ensure the right quantities are available at the right times without going overstocked.
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