Predicting and managing inventory levels are becoming more and more difficult within today’s organizations. Due to customer needs, global demand, and shorter lifecycles, inventory is causing more conflict than ever. The responsibility inventory is divided between finance, sales and field operations, and the supply chain. Inventory should not be seen solely as a cost challenge, but instead as a companywide issue that should be solved to more effectively reach customer needs and provide more returns to shareholders.
To help solve these inventory challenges, executives must make changes within the shared accountability. Three areas that can be immediately improved are:
- Stop shifting blame
- Utilizing inventory technology
- Identifying KPIs
Learn the specifics of the three listed areas for inventory improvement and how they can help establish consistent and long term inventory accountability by clicking the green button below.
Keep Reading…