Essay on inventory management

Inventory management is dependent on the ability to project what products and quantities of a product are going to be demanded. The current economic climate has challenged businesses’ forecasting capability and created a level of uncertainty in demand, purchasing timelines, and when to expect recovery that has not been experienced before. Uncertainty has further challenged inventory management across all levels of the supply chain creating scarcities in some areas and excess inventory in others. When demand uncertainty is combined with financial distress amongst businesses an increased level of restriction and tightening of cost management further complicate the inventory situation. As complicated and challenging as inventory management may be during a time of economic uncertainty it becomes increasingly important to the organization’s success. Effective inventory management can impact a company’s ability to grow revenues, increase competition, pay against obligations, and avoid unnecessary costs.

Essay on inventory management

essay on inventory management

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essay on inventory managementessay on inventory managementessay on inventory managementessay on inventory management