An Inventory Management System (IMS) is a software tool that helps businesses track their products and supplies. It allows companies to monitor stock levels, manage orders, and forecast inventory needs. By automating these processes, an IMS can reduce errors and save time, ensuring that businesses have the right amount of stock on hand. These systems can also provide valuable insights through reporting and analytics, helping businesses make informed decisions about purchasing and sales. With features like barcode scanning and real-time updates, an Inventory Management System enhances efficiency and supports better customer service by preventing stockouts and overstock situations.