![]() It also ensures that products meet quality standards. Simply put, inventory management is all about having the right inventory at the right quantity, in the right place, at the right time, and at the right cost. This makes inventory management an ongoing goal for product-based small businesses. Products, unlike services, require constant monitoring. ![]() Why should small business owners worry about managing their inventory? These products could be clothing, food or anything between. Essentially, your inventory is the products your business sells. It tracks the flow of inventory from manufacturing to warehouse storage to the point of sale. Inventory management is a component of supply chain management. Then, learn how to improve tracking your business assets. Read on to find out about inventory management. If this happens routinely, your inventory management system might be out of whack. Imagine your customers are lining up for one of your products but you're clean out of stock.
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