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PDF | Inventory management has become one of the key elements of the supply chain management and can greatly affect the performance of a business. The. Basic Concepts in Inventory Management 2 Abstract In this chapter, the concept of inventory is discussed which is central to materials management function. Choosing an inventory management system that's right for your business can be a tricky process. But here are a few pillar features of good software: ○ Real- Inventory control refers to a process of ensuring that appropriate amount of stock are maintained by a business, so as to be able to meet customer demandInventories cover the manufacturing problems; the manufacturing problems cause more inventories and deteriorate the manufacturing system. This is an intangible