Most likely cause: The lookup value and imported key are not exactly equal because the inventory key has a trailing space. Confirm with =LEN(A2) and =LEN(Inventory!A2), or compare =A2=Inventory!A2. A second possibility is another non-printing character; test with CLEAN after TRIM.
Smallest justified correction: Clean the source key in a helper column, for example Inventory D2: =TRIM(CLEAN(A2)), fill it down, then use:
=IF(A2="","",XLOOKUP(TRIM(CLEAN(A2)),Inventory!D:D,Inventory!C:C,"Not found"))
This preserves a visible no-match result, keeps blank request rows blank, and avoids recalculating transformations across a full imported column inside every lookup.
Tests: SKU-1042 with a cleaned source key returns its stated quantity; the original trailing-space row now matches; blank A2 returns blank; SKU-9999 returns “Not found.” Inspect duplicate cleaned keys before filling down because cleaning can collapse two different raw values into the same key.