The word “Inventory” stands for the merchandise a business wants to sell to customers and make a profit. Managing inventory is a key step of the supply chain; it involves tracking inventory from the manufacturer to warehouses and then on to a retail center.

1. Inventory planning and
Management
The word “Inventory” stands for the merchandise a business
wants to sell to customers and make a profit. Managing
inventory is a key step of the supply chain; it involves tracking
inventory from the manufacturer to warehouses and then on to
a retail center.
Why is inventory important?
Inventory management aims to have the exact products
needed in the required quantity at the right place and at the

2. right time. Inventory planning and management systems
include:
1. Overseeing of purchase: Goods that are ready to be sold
are bought and transferred to the warehouse (or directly
to a retail center)
2. Stock maintenance: The goods in the inventory are stored
in expectation of demand.
3. Order fulfillment: The extent of product for sale is
controlled for optimum Management and dispatched to
customers to fulfill orders
Inventory is a business’s most vital resource, and it has to be
maintained at optimal levels. Low levels of inventory, when
needed, can cause customer dissatisfaction. On the other hand,
a very large inventory has disadvantages like the cost of storage
and insurance and the risk of damage. Finding the right
inventory balance can make all the difference to a business’s
bottom line.
Is inventory management the same as warehouse
management?
No, they are interconnected but different aspects of the supply
chain process. Inventory management is about the actual
products or materials that are held within a Warehouse in Los
Angeles. Warehouse management is more about how
individual items are moved around the warehouse, from the
time they come into the stock until they are ready for shipping

3. out. The technology, equipment, and people involved in the
process are critical to successful warehouse management.
If you are a growing business that needs help to manage
inventory and warehousing, it is advisable to call in a supply
chain consulting firm.
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