![]() Poor or bad inventory management is one of the top reasons why small businesses fail. That is the key to running an efficient and profitable business. Without inventory going out, there is no money coming in.Įven more important than just having or not having inventory, is keeping track of inventory. Inventory is the materials, work-in-progress goods and final product that businesses sell in order to generate revenue. The key aspect here is to understand how you want to utilize these stock items for each transaction. The business needs dictates how the stock is tracked, whether by batch, serial or SKUs. The nature of inventory items varies with each business segment. ![]() ![]() Stocks, Inventory, Goods, Products, Items, Material, etc - these are the few names by which Inventory is commonly referred to by various businesses across the globe. ![]()
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