A perpetual inventory system is a method of tracking inventory in real-time. Instead of relying on periodic stocktaking to determine the quantity and value of a business’s current inventory, this type of system uses continuously updated digital records of all inventory purchases, sales, and movements to maintain an accurate picture of a company’s present stock at any given time. With a perpetual inventory system, businesses benefit from quicker stock reordering and greater accuracy in their financial reports – allowing them to remain agile and profitable in today’s fast-changing business environment.