Inventory
Inventory refers to the collection of goods, materials, or products that a business or organization has in stock and available for sale or use. Inventory can include both raw materials and finished products, and it is typically managed and tracked using inventory management systems.
The primary purpose of inventory is to meet customer demand for products or materials while minimizing the costs associated with storing and managing inventory. Businesses must strike a balance between having enough inventory to meet demand without overstocking and tying up too much capital in excess inventory.
Effective inventory management involves accurately forecasting demand, optimizing inventory levels, and implementing efficient supply chain and logistics processes to minimize costs and maximize profits.