Inventory management is a key part of the business that helps ensure daily operations run smoothly as planned. The process involves keeping track of the stock or inventory. Any lapses here can affect the available supply, orders, and delivery of products. So, it is important to be careful about managing inventory on a daily basis. So, to ensure a hassle-free process, here are a few mistakes to avoid while managing inventory:  1. Using spreadsheets While a spreadsheet is an extremely handy tool for keeping track of stock, it may be outdated. The tool provides a lot of flexibility and is easy to manage. However, newer tools in the market are much more capable and offer equally smooth user experience. Dedicated inventory management software automates various tasks. For instance, they can automatically update data using the business’s websites and applications, ensuring up-to-date inventory information. So, one should consider opting for inventory management software to make the task easier.  2. Overstocking It is definitely important to keep a tab on the demand for products and meet it. However, it is equally important to avoid ordering or holding on to excess stock. One of the problems with overstocking is that perishable items, if any, can get spoiled if they remain unsold for a long time.