Why is it important to maintain an accurate inventory of hazardous materials?

Maintaining an accurate inventory of hazardous materials is crucial to ensure compliance with regulatory requirements. Regulations set forth by various agencies, such as the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA), mandate that organizations keep precise records of hazardous materials they handle. This not only promotes safety by allowing for proper planning and emergency response but also helps organizations avoid potential fines or legal issues that can arise from non-compliance.

Accurate inventory management aids in identifying the types and amounts of hazardous materials present, ensuring that facilities adhere to safety protocols, storage guidelines, labeling requirements, and reporting obligations. This compliance is essential for protecting workers, the environment, and the community at large.