Inventory management

• Inventory management is the entire process of managing inventories from raw materials to finished products.
• Inventory management tries to efficiently streamline inventories to avoid both gluts and shortages.
• Four major inventory management methods include just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI).
• There are pros and cons to each of the methods, reviewed below.

 The four main types of inventory management are just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI). Each method may work well for certain kinds of businesses and less so for others. 

 Inventory management is a crucial part of business operations. Proper inventory management depends on the type of business and the products it sells. There may not be one perfect type of inventory management because there are pros and cons for each. But taking advantage of the most appropriate type of inventory management can go a long way toward ensuring a company's success.