Effective inventory management is crucial for optimizing business operations and ensuring product availability while minimizing excess stock. By implementing robust inventory management techniques, companies can streamline processes, reduce costs, and improve overall efficiency. Techniques such as Just-in-Time (JIT), ABC analysis, and safety stock strategies help businesses maintain the right balance of inventory. Adopting these inventory management techniques ensures that businesses can respond quickly to market demands and minimize waste, leading to better profitability and customer satisfaction.