Each company that attempts to reduce inventory and its associated costs brings its own unique advantages and challenges to the battle. Managing for optimal inventory levels is a critical objective that requires diligent attention and daily action to maintain hard-fought advantage. The results, however, measured through improved customer service, increased sales, reduced costs and ultimately more profitability are worth the effort.
For more than 24 years, Demand Solutions has helped thousands of customers manage for optimal inventory levels. During that time, we have encountered frequent misconceptions about inventory planning based on out dated practices, short-sighted thinking, or simply inexperience. In this white paper, we identify the 10 most common mistakes we have encountered and list their “symptoms” to make each error easier to diagnose. We then offer practical solutions to help companies solve these problems to begin reducing inventory-associated costs and their performance-sapping consequences.
The 10 Most Common Inventory Mistakes…
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