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Q What is inventory management? Why is it important? Identify an example of a inventory system with which you have worked (You can even describe one you use at home for groceries or other items). Discuss how it was managed. Could you have used any of the models discussed in this unit?

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The inventory management, which is a part of the supply chain management, works with the inventories or the stock items of an organization (Rouse, 2017). Based on the situation, the inventory can be of different types like raw materials, work-in-progress, finished goods, and MRO goods. The inventory is an important part of the supply chain and a damage in the inventory would disrupt the whole supply chain is a great length.