When I was searching for a definition of inventory management, this is what I found on Wikipedia: “Inventory management is a science primarily about specifying the shape and percentage of stocked goods”. As an entrepreneur you might agree that this definition is vague and does not capture what inventory management is really about. When we think about inventory management, thousand things may come to mind. Controlling inventory, taking care of your accounts, managing sales and inventory orders, correctly handling invoices and other costs are just a few things that might strike you. Rather than the simplistic definition Wikipedia gave, managing your inventory and sales properly involves so much more than just controlling your inventory.
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