An inventory management system is a software application that helps businesses track and manage their inventory. It involves monitoring stock levels, tracking product movement, and optimizing inventory levels to ensure efficient operations and minimize costs.

---

Overview & Features

• Inventory Tracking: The system should provide real-time visibility into inventory levels, allowing users to track stock quantities, locations, and movements.

• Order Management: Managing purchase orders, sales orders, and order fulfillment is a key feature of an inventory management system. It should enable users to create, process, and track orders efficiently.

• Stock Replenishment: The system should support automated stock replenishment based on predefined rules, such as reorder points or minimum stock levels.

• Inventory Optimization: Optimizing inventory levels to meet customer demand while minimizing carrying costs is crucial. The system should provide tools for demand forecasting, inventory analysis, and optimization.

• Reporting and Analytics: Generating reports and analyzing inventory data is essential for making informed decisions. The system should offer reporting capabilities, such as inventory valuation, stock turnover, and demand/supply analysis.

• Integration with Other Systems: Integrating with other business systems, such as accounting or e-commerce platforms, can streamline operations and improve data accuracy. The system should support data exchange and synchronization with external systems.