What are the main components of store inventory management?

The correct choice highlights the crucial components of effective store inventory management, which includes tracking stock levels, ordering supplies, and conducting regular audits.

Tracking stock levels is essential as it allows a business to monitor current inventory in real-time, ensuring that they have sufficient stock to meet customer demand without overstocking, which can lead to increased costs and waste. Accurate tracking helps in understanding which products are selling well and which are not, informing future purchasing decisions.

Ordering supplies involves maintaining a balanced inventory by replenishing stock based on data from tracking systems. This ensures that the business can continue to operate smoothly without interruptions due to stockouts, while also taking advantage of bulk ordering savings when applicable.

Conducting regular audits is critical to verifying physical stock levels against what is recorded in the inventory system. This helps in identifying discrepancies which can arise from theft, loss, or errors in record-keeping. Regular audits allow businesses to correct these issues promptly and maintain an accurate inventory.

The combination of these three elements ensures a systematic, efficient, and cost-effective approach to managing inventory, which directly impacts the overall performance of the store.