Explanation: Inventory Management deals with accurately accounting for inventory and products. Inventory has been tracked using paper lists and spreadsheets in the past, but more companies are moving towards inventory management software. Retailers, wholesalers, and manufacturers all need the ability to manage their inventory.
Solutions: Microsoft Excel () can be a viable way to manage inventory and is still widely used. QuickBooks (), though known for its accounting software, has many inventory solutions, with Fishbowl Inventory () being the most popular and most requested.