Improving Company Operations with Efficient Inventory Management
Keywords:
Business, Operations, Effective Inventory, ManagementAbstract
Examining the role of inventory management in reaching peak company performance is the focus of this research. The study explores how organisations may achieve a happy medium between minimal overhead and satisfied consumers via accurate demand forecasting and inventory management. This literature review delves deeply into advancements in technology, such as ERP systems, and various theoretical frameworks, such the ABC analysis. Research methods include statistical analysis and case studies to assess the effects of various inventory management strategies on real-time monitoring and decision-making. According to the results, supply chain efficiency is greatly affected by interdepartmental communication and collaboration.
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