Which process involves overseeing the ordering and storing of products in an organization?

Inventory management is the process that specifically involves overseeing the ordering and storing of products within an organization. This function ensures that the right amount of products is available to meet customer demand while minimizing costs associated with excess inventory. Effective inventory management allows organizations to track stock levels, manage reorder points, and maintain an efficient flow of goods. It emphasizes maintaining optimal inventory levels to avoid both stockouts and overstock situations, thereby helping in maintaining operational efficiency and service levels.

In contrast, supply chain management has a broader scope that encompasses the entire flow of goods and services from the point of origin to the final customer, including procurement, production, and distribution. While product development focuses on creating new products or improving existing ones, resource allocation is about distributing resources effectively across various departments or projects within an organization. Therefore, inventory management is the most precise term for the specific process of overseeing product ordering and storage.