Enterprise inventory management is an organized and strategic overview of the entire inventory of a business, ensuring that raw materials and finished goods move seamlessly from the warehouse to the customer. It involves monitoring stock levels, managing the supply chain, and optimizing processes to prevent shortages or overstock situations.
Effective inventory management has significant benefits. It helps businesses avoid the headache of stockouts, ensuring that products are consistently available when customers need them.
On the other hand, it prevents overstocking by adjusting inventory levels across all locations. Having a clear view of the entire supply chain helps businesses make informed decisions, streamline operations, and ultimately enhance customer satisfaction.