Inventory Management Program For Working Adults And Industry Practitioners

Inventory Management is a crucial component of supply chain management and it is the process of tracking stock levels and the movement of goods, whether it be delivering raw materials to  manufacturers  or fulfilling orders for finished products. 

Inventory Management is the fundamental building block to longevity, helping businesses to minimize costs, improve cash flow and boost profitability.

When your inventory is properly organized, the rest of your supply chain will fall into place. Without it, you risk a litany of mistakes like mis-shipments, shortages, out-of-stocks, spoilage (when dealing with perishable stock items), overstocks, mis-picks and so on.

Nonetheless,  43% of small businesses  still don’t track their inventory, and, on average, U.S. retail operations have a supply chain accuracy of only 63% — which means many retailers aren’t taking advantage of the inventory management software available.  

Unlike an  Enterprise Resource Planning (ERP) system, an inventory management system focuses on one supply chain process.

They often come with the ability to integrate with other software systems — POS (point of sale), sales channel management, and shipping  — so you can build a personalized integration stack to meet the unique needs of your business.