Inventory management is a systematic approach Inventory management is a systematic approach to sourcing, storing, and selling inventory and to keep track of the business’s stocked goods and monitor their weight, dimensions, amounts, and location.

The aim is to minimize the cost of holding inventory The aim is to minimize the cost of holding inventory by letting you know when it’s time to replenish products, or buy more materials to manufacture them.

An organized inventory management results An organized inventory management results in more efficient present and future fulfilment plans.

In business terms as a merchant In business terms as a merchant the most important thing is to have the right stock, at the right levels, in the right place, at the right time, and at the right cost as well as price to fulfill the requirements of a customer.