Inventory plays a crucial role in operations management. Beyond being an important part of working capital, managing inventory effectively is both a strategic and tactical element in an organisation’s value chain.
Poor logistics management can result in inefficiencies and outdated practices, which can hurt performance. So, improving inventory involves making key decisions:
Planning decoupling points.
Positioning inventory throughout the supply chain.
Managing the best assortment.
Exploring supply chain and enhancing Net Working Capital (NWC)
True supply chain visibility and teamwork extend well beyond simply automating order-to-cash and procure-to-pay processes, which are often backed by electronic data interchange.