Ordering inventory to match customer demand has always been a balancing process. Having too little inventory could lead to missed sales and disruptions of your manufacturing process. Conversely, having too much inventory could lead to a waste of resources or an increase in carrying costs. It is estimated that inventory issues cost an estimated $1.1 trillion every year. With new warehousing innovations entering the industry, many businesses are utilizing management software and systems to balance their inventory. If you are interested in learning more about the importance of a balanced inventory management system, make sure to consult the resource below.
Infographic created by WSI, a 3pl warehouse services provider