Inventory management is a concept that businesses of all types struggle with on a daily basis. It is incredibly important for small businesses, however, especially when their bottom line is concerned. As the term suggests, inventory management is used to describe a business’ level of effectiveness when managing their physical inventory of on-hand products in relation to supply and demand. If a company carries an inventory that is far too large, they’re spending money to house and maintain inventory that isn’t selling fast enough. If inventory is too lean, however, a company runs the risk of not having on-hand what is needed to meet customer demand. Lean inventory management involves walking a very sensitive tightrope, but it is a process that can be implemented in a few key ways.