12 Inventory Management Techniques To Cut Losses
Imagine a set of business decisions that could slash your costs and boost return on investment, profits and return on sales. Though the jury is still out on a perfect correlation, at least fifteen studies in the past twenty years have suggested a positive link between tighter inventory management and business performance.
Even more directly, evidence suggests that performance is related to ‘the number of techniques employed and the depth of their implementation’. And, according to the same study, that the adoption of improved inventory management techniques has a positive knock-on effect, encouraging management excellence in other business areas.
In short, taking greater care of your inventory pays. But all that begs the question: which techniques can you adopt to ensure your inventory is working for you? In this blog, we’ll share 10 ideas to get you started