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Inventory wastage, arising from factors like overstocking, obsolescence, spoilage, and shrinkage, poses challenges to profitability. To address these risks, businesses employ strategies in inventory management. Demand forecasting aligns inventory levels with actual demand, while efficient techniques like just-in-time (JIT) systems streamline processes. Regular audits maintain accuracy, and advanced tools like safety stock analysis and inventory projections optimize levels. Product lifecycle management identifies slow-moving or obsolete inventory for targeted liquidation. Integrating these methods minimizes holding costs, optimizes turnover rates, and maximizes profitability.