What are inventory management solutions?

Inventory management solutions are tools programmed to help retailers and manufacturers manage their inventory. There are many types of inventory management solutions, but they all have one goal- to reduce the amount of money wasted during the process of distribution. There are two methods that inventory management solutions use to improve the efficiency of managing inventories. Firstly, they can manage a company's entire global distribution network, which includes physical locations, web stores, and third-party vendors or suppliers. Secondly, they can also provide real time information on sales and shipments in order to create custom forecasts so that companies can predict how much product they will need in future months.