Homonym: inventory (Stock)
Inventory refers to the collection of goods and materials that a business keeps on hand to sell or use in production. This can include finished products, raw materials, and items in various stages of production. Managing inventory is crucial for businesses to ensure they have enough products to meet customer demand without overstocking, which can lead to wasted resources.
Effective inventory management helps businesses track what they have, when to reorder, and how much to order. Tools like inventory management software can assist in monitoring stock levels and sales trends. By maintaining the right balance, companies can improve efficiency and profitability.