Inventory system management is a crucial process for businesses, involving the oversight and control of components used in production and the management of finished products for sale. It aims to maintain a balance between having enough stock to meet customer demand and minimizing excess inventory. Key components include:

• Forecasting Demand: Estimating customer demand to determine optimal stock levels.
• Stock Replenishment: Ordering more inventory when current levels are low.
• Inventory Optimization: Ensuring sufficient stock to meet demand without overstocking.
• Use of Technology: Leveraging software for accurate and efficient inventory management .^{netsuite.com 1 3 6}