What does one percent inventory accuracy mean to your operation?
As you may know, our CEO, Matt Yearling, contributes regularly to logisticsviewpoints.com with guest articles. Logisticsviewpoints.com mission is to provide logistics professionals with clear and concise analyses of logistics trends, technologies, and services.
In his new article titled “The High Cost of The One Percent Inventory Accuracy in Your Supply Chain”, he breaks down the challenges and costs associated to inventory management and what one percent of inventory accuracy represents to your operation.
Managing inventory in 2019 has become an even more complex challenge according to our industry peers and PINC customers. In the article, Matt explores some of these challenges mentioned in the paragraph below...
"The supply chain industry is going through a transformation because customers’ expectations are changing and labor is hard to find and retain. If you add to that the national warehouse vacancy rate hovering at record lows and warehouses bloated with inventory pulled in from China during 2018 to get ahead of impending tariffs, managing inventory effectively has become an even more challenging task in 2019."
...and offers a perspective on what you can do about it. If you haven't read it yet, the article is a must read.