- An inventory management system is a unified set of tools and processes used to track products from purchase to final sale. It records quantities, locations, and item movement, helping prevent stock shortages as well as excess inventory. Inventory management software centralizes data so teams can make faster, informed decisions with real-time stock levels and clear audit trails.
- The system helps purchasing, sales, and accounting teams work in sync by automatically updating stock after every transaction. At a basic level, it automates stock counting and adjustments. It also supports barcode scanning, batch tracking, and serial number control for better accuracy.