Benefits of Inventory Management

Benefits of Inventory Management are as follows:

1) Inventory management can remove barriers between manufacturers and retailers and establish a closer relationship between them.
2) It helps in the frequent analysis of purchases, sales, and inventory records.
3) It gets complete information about the value of inventory.
4) It gives complete knowledge of the exact size of merchandising inventory.
5) Organisation has full knowledge of its inventory.
6) Simple inventory management software functionality can range from almost free to high-end systems costing millions of dollars.
Inventory management is one of the