Inventory management is the backbone of any successful supply chain. It’s a series of tasks that help keep your business stocked with everything it needs, while also making sure you’re not wasting money on items you don’t need.
The inventory manager has to be prepared for anything; if they have too much product on hand and prices drop or demand decreases drastically, then their products will spoil in storage instead of being sold – resulting in losses for both them and the company itself!