The importance of inventory management cannot be overstated. Unsold products cost a business money. Deadstock is an especially costly problem because it means that the business is stuck with a product it can’t sell. In addition to being expensive, these products often have poor shelf life and are prone to spoilage. For this reason, keeping track of inventory is critical to a business’s survival. If done correctly, inventory management can reduce costs and ensure a smoother operation. procurement & logistics A proper inventory management system is essential for a business of any size. It requires complex decisions and involves multiple levels of organization. Small businesses can keep track of their…