Inventory management is the ongoing process of moving parts and products into and out of a company's location(s). Companies manage their inventory on a daily basis as they place new orders for products and ship orders out to customers. It's important that business leaders gain a firm grasp of everything involved in the inventory management process. That way, they can figure out creative ways to solve inventory management challenges by finding the right solutions.
Without a doubt, inventory management is an important part of doing business. It is the means by which companies remain stocked with all of the essential goods they need to sell to customers and complete daily operations.