Inventory Management is the systematic approach to sourcing, storing, and selling inventory—both raw materials and finished goods. It ensures that the right quantity of products is available at the right time to meet customer demand without overstocking or stockouts. Effective inventory management helps businesses optimize their supply chain, reduce carrying costs, improve cash flow, and increase overall operational efficiency. By tracking inventory levels, orders, sales, and deliveries, companies can make informed decisions, prevent losses, and enhance customer satisfaction.