Bill of Materials (BOM) Inventory Management is the art and science of procuring and managing the components of a product or service with the intent to decrease costs, increase efficiency, and enhance customer satisfaction. In essence, BOM Inventory Management seeks to create an inventory system that provides quick and accurate procurement of materials needed for production in a timely manner, thus ensuring that customers receive the highest quality products at competitive prices. By monitoring stock levels, maintaining optimal order quantities, and streamlining the entire supply chain process, BOM Inventory Management offers great value to both businesses and customers alike.