Keeping too much could result in obsolete inventory you’re unable to sell, while keeping too little could leave you unable to fulfill customer orders. Gone are the days when inventory could be counted once a year with an all-hands-on-deck approach.Ĭustomer demand is constantly shifting. You need to know, at any given moment, exactly what inventory you have. The challenge is to perform all these tasks in the most efficient way possible. Inventory management controls at the warehouse is labor-intensive and involves several steps, including receiving and putaway, picking, packing and shipping.
Even small businesses can benefit from a centralized inventory tracking system that includes accounting features. Using manual inventory tracking procedures across different software and spreadsheets is time-consuming, redundant and vulnerable to errors. To help, here are 20 common inventory management challenges to watch for in your supply chain. The process and results impact every aspect of your business. 20 Common Inventory Management Challenges To learn more, read our inventory management article. We’ll walk through some of the common inventory management challenges-and how to overcome them. And staying on top of your inventory and managing it efficiently helps you meet demand and generate sales. The lifeblood of your business is getting your products to your customers on time. East, Nordics and Other Regions (opens in new tab)
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