Guide
Inventory management is the practice of knowing what stock you have, where it is, what it cost, when it will run out, and whether it is still sellable. For a shop it can be a shelf count. For a warehouse-plus-store business it is a system: purchasing, receiving, transfers, sales and valuation.
Stock is cash sitting on a shelf. Too little and you lose sales. Too much and you tie up working capital, risk expiry, and hide dead stock. Good inventory management reduces stockouts, shrinkage and surprise write-offs.
Most businesses cycle through the same activities whether they use Excel or inventory management software.
Excel is fine for one location and a short product list. It breaks when two cashiers sell at once, a warehouse replenishes three stores, or batches expire. That is when inventory management software earns its keep.
