MODERN INFORMATION TECHNOLOGIES AND THEIR APPLICATION IN INVENTORY MANAGEMENT

Abstract

Inventory plays a central role in the supply chain, connecting every stage—from procurement to sales. Efficient inventory management contributes to cost reduction, increased profitability, and strengthening of competitive advantage [1, 23]. Modern enterprises face challenges such as globalization, volatile demand, and the need for rapid response to market changes. For this reason, digitalization of inventory management processes has become a key prerequisite for competitiveness and sustainable business operations. Inventory management represents a crucial element of efficient business performance. Effective inventory control enables organizations to reduce costs, increase liquidity, and improve customer satisfaction. The aim of this paper is to present traditional and modern models of inventory management, with special emphasis on the application of information technology and artificial intelligence. The general objective is to examine and demonstrate the role of information technologies in improving inventory management processes and their influence on business efficiency-reducing total holding and ordering costs; increasing speed and reliability of decision-making; ensuring higher data accuracy and better control over stock movement. The subject of this research is the analysis of the significance and impact of information technologies on planning, control, and optimization processes of inventory across enterprises of different industries. In today’s business environment, information technology (IT) plays a key role in enhancing inventory management and improving supply chain efficiency. The paper also presents a Python-based software solution for calculating Economic Order Quantity (EOQ). This research will utilize a combination of qualitative and quantitative methods. For data processing and analysis, statistical methods (descriptive statistics, correlation analysis, regression models) will be applied using software tools such as Excel or SPSS. Understanding the purpose, categories, and inventory management systems enables companies to achieve an optimal balance between product availability and holding costs. Contemporary practice increasingly relies on digitalization and forecasting models that enhance decision-making and make the supply chain more resilient and efficient.