Inventory management processes are all the activities involved in ensuring that businesses have the right amount of product on hand to meet customer demand. This includes tracking, ordering, and restocking inventory, as well as staying up-to-date with industry trends and shifts in customer preferences. By keeping track of stock levels and understanding what customers want, businesses can ensure they always have enough supplies to meet demand without overstocking or running out. In addition, this data helps identify opportunities for cost savings and more efficient production processes. Ultimately, effective inventory management means higher profitability and long-term success.