MANAGEMENT

Detailed explanation-1: -Inventory management is an essential part of any business. It can help you save time and money by ensuring that you have the right amount of inventory on hand. This can help you avoid stockouts, costing your business money in lost sales.

Detailed explanation-2: -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.

Detailed explanation-3: -Effective inventory management and control protects from incorrect or damaged goods being shipped to customers. This helps improve customer experience, protect from issues such as refunds, and achieve more repeat buyers.