RICHARD WALE of The Consultancy Company wants to change the perception of inventory management.
Necessary evil or strategic asset?
Richard Wale: inventory plays a key part
in ‘lubricating’ the business
Inventory acts in a similar way to oil in an engine: too
much of it floods the business; too little and it seizes up.
Many organisations see inventory as a necessary evil, instead
of managing it for the benefit of the business. They know
the business goals that inventory is designed to support,
but that does not mean they know which items should be stocked
and how to stock them effectively and affordably.
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