In inventory management, two primary systems are utilized: the perpetual and periodic inventory systems. The perpetual inventory system continuously updates inventory records in real-time with every purchase or sale transaction, providing an immediate and accurate reflection of inventory levels. This system often integrates with point-of-sale technology, ensuring precise tracking and reducing discrepancies. Conversely, the periodic inventory system updates records at specific intervals, such as monthly or annually, requiring physical counts to determine inventory levels. This method is less costly but may lead to inaccuracies between counts.