Why is inventory management important?

Inventory management is important because it helps ensure that businesses have the right amount of inventory on hand at all times. It helps reduce costs associated with storing and transportation, and it can help ensure that companies are able to meet customer demand by having the right items available when needed.

Inventory management is the process of efficiently tracking and managing inventory levels, orders, sales, and deliveries. This includes processes like reordering stock, tracking orders, and monitoring inventory levels to ensure that products are available when customers need them. It is an important part of any business because it helps to ensure that products are available when they are needed and reduces the costs associated with inventorying and fulfilling orders.