When it comes to inventory optimization, everyone is talking about becoming more “lean”. Many of our clients understand the concept and look to us to help them implement the best solution to achieve inventory optimization and “lean” concepts. Unfortunately, there is no “one-size-fits-all” approach. Inventory optimization is a process, consisting of a lot of trial and error before reaching success. Every business is different, and if your sales business is seasonal, inventory management can be a complete nightmare.
While it is true that every business is unique and will approach inventory optimization differently, there is one constant and that is: managing your inventory is an art.
The benefits derived from inventory optimization are real. The fewer dollars you have tied up in your warehouse will enable you to increase your entire company’s value. Say, for example, you need to invest in a physical asset to help increase productivity. Should you invest those dollars in sales and marketing to turn that inventory more frequently? Or should you invest those dollars in employee training to improve existing processes and increase customer satisfaction? These are questions only you can answer for your company.
ERP software, such as Sage 100 ERP, can help you achieve the benefits and meet the goals of inventory optimization. If you can figure out the secret to inventory optimization for your company, you can do things the competition is unable to do that will have customers knocking down your door!
Discover the many benefits inventory optimization can bring to your company by downloading our Sage whitepaper, “Inventory Optimization: Optimal Inventory = Lowest Inventory Costs + Highest Sales”.
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