eBooks
Browse our collection of knowledgeable free eBooks which are compiled to help you grow your business.
Inventory management: Past, present, and future.
How inventory management has changed over the years
Retailers of all kinds, including those who sell strictly through online channels, have to take the issue of inventory management seriously. This is because it is the process by which a company maintains the optimum number of each product or item. This is not as easy as it might sound, and can be a βmake or breakβ factor in any enterprise.
When we say the optimum number of any given items, we mean that it is not just a matter of βhow many we need in order to meet customer demandβ. In most cases, it is also a matter of βhow many can we afford to buy and allow to gather dust on the shelves if they donβt sellβ too.
Consider what one source says: βThe objective of inventory management is to provide uninterrupted production, sales, and/or customer-service levels at the minimum cost. Since for many companies, inventory is the largest item in the current assets category, inventory problems can and do contribute to losses or even business failures.β
Inventory management software is proving a bliss for online retailers to get rid of all these problems.
Download the eBook to read more.