One is to establish a system to keep track of items in inventory and the other is to inventory management .
Tracking inventory from producers to warehouses and from these locations to a point of sale is inventory management, a crucial component of the supply chain. Having the right products at the right location at the right time is the aim of inventory management.
Goods management is the process of placing orders for, storing, utilising, and reselling a company's inventory. This includes managing raw materials, components, and finished items as well as the storage and processing of such commodities.
Raw materials, works-in-progress, maintenance, repair, and operations, or MRO, and finished goods are the different categories of inventory management.
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