Why do small businesses need inventory management software?

Businesses use inventory management software to manage and optimize their supply chains. Inventory management software helps small businesses make sure they have enough inventory on hand and at the correct locations to meet customer demand and ensure efficiency in their manufacturing activities.

What is inventory management?

Inventory management looks at how much stock to order and when to order it. The inventory management process involves tracking stock from the point of purchase or creation through its sale. There are many ways to plan and manage your inventory, each guided by your product and business needs.

What is a business inventory?

Inventory is any type of physical assets owned by your business. Raw materials used for building or assembling products? That’s inventory. Products you’ve purchased from a vendor that are still working their way through your supply chain? Inventory. Items used to maintain your business (like cleaning supplies or computers)? Still inventory.