Lot Tracking is an important aspect of Inventory Management where the company tags each batch of product with a Lot Code to search & tag products in batches. Lot Tracking is also used to identify the source of defects (such as in the case of electronic products) or contamination (in the case of food products). Sometimes, companies are forced to recall their products from the market due to significant defects, quality concerns, harm to humans, or regulatory non-compliance. Lot tracking plays a critical role throughout the entire process.