Inventory is a necessary evil that every organization would have to maintain for various purposes like to ensure there is enough stock on hand and to identify when there’s a shortage.
Excess inventory leads to poor quality goods and degradation which results in loss of revenue. Products depreciate over time and lose their initial value, While Low inventory implies missed sales. Both have an impact on the health of the business as well as affect business opportunities.
Optimum inventory management is the goal of every inventory planner. It allows you to reduce working capital (by reducing unnecessary inventory buffers) and improve your service level. It ensures that you get your customers what they want when they want it – without holding too much inventory and satisfying more customers more regularly.
Reach out to Ladlas prince to help you implement an inventory optimization solution.