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Started by : Rajesh Kamal, Sales/BD Manager, Larsen & Toubro   07 17 2010 11:23:45 +0000
Industry : Industrial Products/Heavy MachineryFunctional Area : Capital Management(Corporate Finance)
Activity:  9 views;  last activity : 07 19 2010 10:17:44 +0000

Inventory management challenges are a vexing problem for manufacturers, affecting operational efficiency, customer satisfaction and revenue. And, simply implementing inventory management software isn't necessarily a silver bullet for overcoming challenges.

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While today's inventory management software has more computational power than ever -- segmenting inventory by profitability, calculating safety stocks down to the SKU level and other sophisticated features -- there are other inventory management challenges that need to be addressed. Experts agree that effective inventory management goes hand in glove with demand forecasting, requiring a symbiosis of the people and systems in traditionally separate demand planning and inventory management organizations.

So users, what are the top Inventory Management Challenges?

 
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1 The Challenge to Make Ordering and Distributing Decisions.

The Challenge to Make Ordering and Distributing Decisions.

idea posted by Rajesh Kamal Sales/BD Manager, Larsen & Toubro

If you still use old inventory management tactics while expanding your locations or e-commerce, you will find that balancing inventory for all stores is time consuming, out of stock situations are more likely to happen, making order decisions to maintain efficient inventory levels can be quite complicated.

An efficient solution for these challenges is to integrate inventory management across all stores. Technology is a must in cross-channel inventory management. Do not let your out-of-date IT tools inhibit the growth of your business.

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