“The achievement and continued sustaining of world-class inventory management – maximizing performance in both the financial and customer service arenas – requires experience, vision, commitment, management skill and perseverance.”
So say Ralph Cox and Dr. James A. Tompkins, co-authors of the white paper, “Evolution to World-Class Inventory Management.”
Good inventory management isn’t something that comes overnight. It requires a lot of hard work and planning to pull off, but the results are worth any effort.
“At a minimum, world-class inventory management can be supportive of corporate goals and objectives, minimize cost, and maximize customer service,” the white-paper authors note. “At best, it can become a powerful instrument of competitive advantage.”
Everyone should be looking for a competitive advantage. That’s one of the reasons why inventory management software is so important; it gives a company a big advantage by helping it to cut costs usually associated with poor inventory management.
A company that can efficiently get products to the place they’re needed most and avoid stocking up on unnecessary parts and products, will save money on storage, delivery and potential spoilage. This adds up to a winning strategy.