What is lean inventory management?

There are many methods to manage an inventory system, and lean inventory management is one of them. Lean inventory management focuses on increasing the value of a company's stock by identifying and eliminating waste in material handling, labor, and time, while continuously improving manufacturing processes.

More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits.