Why is Inventory Management important for companies?

Inventory Management is crucial for companies because:

• It helps maintain optimal inventory levels 


• It reduces carrying costs and holding costs 


• It improves order fulfillment rates 


• It minimizes stockouts and overstock situations 


• It maximizes cash flow by ensuring products are sold in a timely manner 


• It enhances customer satisfaction and loyalty 


• It streamlines operations and reduces operational inefficiencies