Inventory Estimation is the process of measuring and predicting the amount of inventory a business needs to maintain an optimal stock level. This involves monitoring and analyzing current inventory levels, sales trends, customer demands, and forecasting future demand. By keeping track of these factors, businesses can estimate the inventory they need in order to satisfy customer requirements, efficiently use storage space, and reduce their costs. Estimating inventory is critical for any organization looking to stay ahead of customer demands and remain competitive in their industry.