ENTREPRENEURSHIP

Detailed explanation-1: -Inventory management is the process of ordering, handling, storing, and using a company’s non-capitalised assets – AKA its inventory. For some businesses, this involves raw materials and components, while others may only deal with finished stock items ready for sale.

Detailed explanation-2: -Inventory management refers to the process of ordering, storing, using, and selling a company’s inventory.

Detailed explanation-3: -Inventory Management vs. Order Management Inventory management is responsible for ordering and tracking stock as it arrives at the warehouse. Order management is the process of receiving and tracking customer orders.

Detailed explanation-4: -Inventory management helps companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure there’s always enough stock to fulfill customer orders and proper warning of a shortage.