Lowering Inventory by Anticipating Demand
Inventory management is all about information. How much product is being stored? Where is it being stored? When will it be moved? The way to lower inventory, and make more money, is to do your best to anticipate demand to minimize inventory, and with the inventory you do have, get it out to the end customer as quickly as possible.
With all of the tools that we have today, anticipating demand should be easy. The problem is, we have so many tools and data, how do you know what to use?
Organizations are being fed constant information through a variety of channels. You need a framework to determine what information to act upon and what information to ignore. During a speech, I told a group of executives ...
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