Purchasing inventory management is a system used by businesses to manage the procurement, storage, and distribution of their inventory. It helps to optimize inventory levels and reduce costs by ensuring that the right items are in the right place at the right time. By using purchasing inventory management, businesses can keep track of what they need, when they need it, and how much it will cost them—all while reducing time-consuming manual processes. It’s an integral part of efficient supply chain management and good financial planning.