What is Inventory?

Inventory technology refers to the systems and processes used to track and manage goods and materials. This includes knowing what items are in stock, where they are located (e.g., warehouse, store shelf), and their quantity. Inventory management systems are commonly used in retail, manufacturing, and supply chain operations to optimize stock levels, reduce waste, and fulfill customer orders efficiently. They can range from simple spreadsheets to sophisticated software solutions that integrate with other business systems.