inventory tracking methods

inventory tracking methods are essential for businesses to efficiently manage stock levels and avoid overstocking or running out of inventory. There are several methods for tracking inventory, including manual record keeping, barcode scanning, and software-based solutions. Many businesses now use sophisticated inventory management software that integrates with their e-commerce platforms, allowing them to automatically track sales and stock levels. Some common techniques include FIFO (First In, First Out) and LIFO (Last In, First Out), depending on the type of products being sold. Effective inventory tracking helps businesses optimize their supply chains and reduce operational costs.