Avoid Making Costly Inventory Replenishment Mistakes
20/04/2021 Computer - IT - Webs
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Description
Inventory Replenishment is vital to the business as it helps the sales team to avoid costly supply chain issues like overstocks and stockouts. Stockouts will not only result in the loss of sales, but it can also be a hit to customer loyalty and trust in the brand. This can also bring danger for your security on the shelf, as the competitors’ company will begin to occupy the empty space.
On the other hand overstocking can be equally problematic to the business. Overstocking will create confusion within the supply chain. If there is a lapse in the communication about the backstock before the stock replenishment is placed, both the retailers and brands will face loss in the order to manage the excess product.
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Shashi Saurav
Individual
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