Asset Management is the practice of overseeing and preserving tangible assets, such as real estate, equipment, or financial instruments. It involves monitoring and assessing the performance of the asset and taking corrective action, if needed. The goal of asset management is to maximize the return on investment while minimizing the risk associated with ownership.

In contrast, Inventory Management deals with tracking and controlling inventory items. It involves procuring, overseeing, and monitoring stock levels to ensure sufficient availability of goods to meet customer demand. The goal of inventory management is to ensure that there is an adequate supply of goods in stock while simultaneously avoiding overstocking and resultant wastage.