6 Ways to Better Inventory Management

If you don’t adapt to the evolution, your demand and available stock will be continuously out of balance. Rising costs and customer dissatisfaction will undermine even the best marketing.

What can you do? Here’s a look at six tips to help you get a better handle on your inventory.

1. Monitor back order rates, inventory valuation and fill ratios daily. How they’re trending is more important than the actual number. If the trend is in the wrong direction, identify and correct the causes quickly.