What is the function of inventory management in logistics?

The function of inventory management in logistics primarily revolves around tracking product levels and managing the flow of supplies within the supply chain. By effectively monitoring inventory, logistics professionals can ensure that the right amount of product is available at the right time to meet demand, thus minimizing both overstock and stockouts. This involves assessing current inventory levels, forecasting future needs, and managing replenishment processes.

Proper inventory management also enables businesses to maintain optimal inventory levels, reduce carrying costs, and improve service levels, ultimately supporting efficient supply chain operations. Regular tracking and management of inventory contribute to a smoother production process and enhance the ability to respond quickly to changes in customer demand or market conditions.

The other choices involve functions that are not the primary roles of inventory management, such as hiring processes, transportation logistics, or marketing, which are distinct areas within a company.