Inventory management is like a life line of any manufacturing or goods trading company. Inventory managemtn helps in maintaining the data of goods purchased, sold, or traded. It helps them to maintain goods categories, goods sub-categories, purchase invoices, sales invoices, returns , refunds, stock balance, taxes, reports.
Inventory management is very important aspect for both manufacturing and goods trading companies. And an effective management leads them to the increased profit margins. Un-necessary storing of neither finished products nor raw material is beneficial to the company.
Good Inventory system installed by the companies at their end helps them to analyse the re-order or production level depending upon the demand or sale trends, it helps in effective sales/purchase management, stock levels, goods in transit, returns, goods category management, etc.