Inventory

Inventory refers to the complete catalog of goods, materials, or products a business holds for sale, production, or use. It encompasses everything from raw materials waiting to be processed, work-in-progress (WIP) during manufacturing, and finished goods ready for customer purchase, to MRO (Maintenance, Repair, and Operations) supplies. Managing inventory efficiently is critical for a company's financial health, as it ties up capital, incurs storage costs, and risks obsolescence, yet insufficient inventory can lead to lost sales and production delays.