Most P&Ls are lying to you. A fractional CFO sees a bad revenue month. A weak ROAS week. A campaign that underperformed. What the P&L doesn't show is the SKU that sold out on day 3 of the promotion. The revenue didn't underperform. The inventory did. But nobody connects the two because they live in completely different dashboards and conversations. Marketing blames the creative The agency blames the algorithm Ops shrugs because the weekly report looked fine. The stockout never appears as a cost line. It shows up as revenue that simply never happened. No line item or alert. Just a worse month that gets blamed on the wrong thing. Inventory isn't just an operations problem. It's a margin problem hiding inside the ops layer. Which month are you currently misreading?