Inventory Management

Inventory management is the ability to oversee the ordering and storing of supplies for a business. It is the responsibility of inventory management to order supplies that a company needs, as well as house the supplies and finished products of the business. When it is summarized in an overview, inventory management sounds simple. Ordering supplies and placing them in a warehouse sounds relatively easy, doesn’t it? However, inventory management must keep track of all supplies so a company can quickly identify when they need to reorder specific items. The amount of supplies that a company needs to order is solely dependent on the demand for the end products of the company.