Inventory management techniques encompass all of the activities associated with controlling the amount, location, and timing of goods in a company’s possession. By utilizing inventory management methods, businesses can track and optimize their stock levels, keep costs low, maximize sales opportunities, and ensure customers are receiving their orders on time. From replenishment strategies to safety stock calculations, inventory management techniques provide organizations with valuable insights into their supply chain operations. Ultimately, efficient inventory management can mean the difference between success and failure for any business.