Company Inventory Management is the process of keeping track of, organizing, and overseeing the materials and products needed for a business to function effectively. It involves monitoring the resources in stock, planning purchases and deliveries, organizing warehouse storage and distribution operations, tracking orders and shipments, and more. Properly managing your company’s inventory is vital to ensure you have the materials on-hand when and where you need them, and that you’re not paying too much for something you don’t need. It’s an essential part of any successful procurement strategy.