Inventory management is the process of overseeing and controlling a company's stock of goods. It involves tracking inventory levels, orders, sales, and deliveries to ensure that the right amount of products is available at the right time. Effective inventory management helps businesses minimize costs, reduce waste, and meet customer demand efficiently. A key aspect of inventory management is maintaining an accurate record of items in stock. This can be achieved through various methods, such as barcode scanning or inventory management software. By optimizing inventory levels, businesses can improve cash flow and enhance overall operational efficiency.