A single mishap in inventory operations can create a ripple effect across your business, leading to stockouts, unsatisfied customers, increased shipping costs, and revenue loss.
Tracking the right inventory metrics and KPIs is essential to maintain a balance of stocks, reduce operating costs, and improve overall inventory management process efficiency.
Effective KPI implementation involves setting SMART goals and focusing on metrics that answer key business questions, avoiding vanity metrics and tracking trends for deeper insights.
#inventory-management #key-performance-indicators #operational-efficiency #cost-control #sales-forecasting
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