Inventory management activities are the processes and strategies used to maintain an optimal level of stocked items. This includes keeping track of all inventory in stock, determining when to reorder or restock items, and then purchasing new products. It also involves anticipating customer demand for certain items, efficiently storing items, and monitoring inventory for loss or damage. By effectively managing inventory, businesses can ensure they have enough stock to meet customer needs, while also keeping costs low. Ultimately, this allows businesses to achieve their desired profitability goals.