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When most people think of inventory, they picture warehouses full of products. In hotels, inventory is different. Hotels need to stock items like toiletries, linens, and food.

Imagine a car maker that builds high-performance electric cars. A customer hears a strange noise from their new car’s motor. In the past, fixing this would take a long time.

Inventory systems play a key role in helping businesses comply with Generally Accepted Accounting Principles (GAAP). GAAP is a set of rules and standards created to make financial reporting clear, consistent, and transparent.

Every business wants to run smoothly. It wants happy customers who come back. It also wants steady profits. A regular flow of inventory helps make this happen.

Strong inbound and outbound logistics are crucial to the success of a business. These processes affect production, profits and customer service.

Have you ever tried to buy a product online or in-store, only to find it out of stock? Frustrating, right? For businesses, that situation often points to challenges in managing finished goods inventory.