Final answer:
The perpetual inventory system is a method used in inventory management to constantly update and track inventory levels in real-time.
Step-by-step explanation:
In this question, the subject is Business and the grade level is College. The question asks for the definition of a perpetual inventory system. Perpetual inventory system is a method of inventory management where the inventory records are constantly updated to reflect the current stock levels. With this system, businesses can have real-time visibility into their inventory, which helps with accurate ordering, reducing stockouts, and preventing excess inventory. It involves using technology like barcode scanning and inventory management software to track and manage inventory.