What is aInventory management

Inventory management is the strategic process of overseeing and controlling a company's stock of goods, materials, and products. It involves monitoring the acquisition, storage, distribution, and tracking of inventory to ensure optimal levels are maintained. Effective inventory management helps businesses strike a balance between having enough stock to meet customer demand while minimizing excess, which can tie up capital and increase costs. It plays a critical role in maintaining efficient operations, reducing holding costs, preventing stockouts, and enhancing overall profitability and customer satisfaction. Read detailed article about [Inventory management](https://www.teamcamp.app/blogs/streamlining-project-workflows-best-practices-in-inventory-management)