Effective Inventory Management Strategies for Cost Optimization and Demand Fulfilment

Abstract

Businesses are able to save money and better serve the demands of their customers when they have effective inventory management. There are a number of inventory management tactics that might be helpful in accomplishing this objective. Some of these strategies include reducing the amount of dead stock (for more detail, see the definition of dead stock) and using the reorder point calculation. One of the most important aspects of inventory management is the need to pay continual attention to stock counts.