Inventory of Supplies is a crucial component of any business and it’s important to understand what inventory actually is. Basically, it refers to the various tangible items that a business needs in order to function. This can range from raw materials needed to create products or services, components used to build those products or services, or even finished goods that are ready to be shipped out and sold. No matter what type of business you run, you need to always keep an accurate and up-to-date record of your Inventory Of Supplies in order to efficiently manage and operate your company.