Stages of Inventory Management Expertise
Meet the Experts
Key Takeaways
⇨ Inventory management is becoming a critical capability in the age of increasing supply chain complexities.
⇨ Organizations need to build robust inventory management capabilities but building those capabilities is a stepwise journey.
⇨ Organizations need to climb three stages to eventually build an inventory management expertise that is world-class.
Inventory availability is the most critical aspect of customer service. In manufacturing and distribution domains, organizations need to define Inventory Management strategies that can help them control and minimize Inventory costs while providing the desired service levels to their customers. Inventory Management strategy can be used as a strategy of competitive advantage and as a key differentiator if the organization achieves a certain level of Inventory Management expertise. This leads to the question- what different levels of Inventory Management expertise can an organization achieve? The Inventory Management Pyramid discussed in this article can be used to answer this question.
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