is one of the most time-consuming tasks facing many organizations today. It’s a complex process, yet essential for operations. One mistake can wreak havoc on the supply chain for miles and months to come. Basically, it’s a big disaster waiting to happen and one that you want to avoid at all costs. The key, of course, is effective and precise control over your inventory.
is much simpler these days thanks to the ability to automate inventory control processes. Early retailers managed inventory control manually, with regular counts to ensure accuracy and paper-and-pencil tracking methods. It’s not difficult to see the massive margin for error – and if you’ve ever manually counted inventory for a retail store or a similar setting, you’re all too familiar with the level of frustration involved in such a task. Asset tags, inventory control tags and barcode labels put the “management” back in inventory management.
TRUE COST OF INVENTORY MANAGEMENT
The signs of poor inventory management are hard to miss. In addition to high inventory costs, companies with poor inventory management often experience:
SYMPTOMS OF POOR INVENTORY MANAGEMENT