Stock management, also known as inventory management, is the process of overseeing the flow of goods in and out of a business's inventory. It involves tracking the quantity, cost, and location of a company's stock, as well as forecasting future demand and ordering new stock when needed. Stock management is an important function for a business because it helps the business to maintain the right level of stock to meet customer demand without overstocking or running out of stock. It can also help a business to control its costs by ensuring that stock is not wasted or lost due to spoilage or theft.