Effective Inventory Management is an ongoing process that involves tracking stock levels, adjusting purchasing needs, and monitoring sales trends in order to maximise sales revenues and minimise costs. By carefully managing inventory levels, businesses can ensure that stock remains at the optimal level – neither too high nor too low. This allows them to save money by avoiding over-stocking or wasting money on emergency orders, while also providing the necessary stock to meet customer demand. Ultimately, effective inventory management enables businesses to create a smooth and efficient supply chain that meets customer demand, boosts profits, and increases customer satisfaction.