4 Best Practices for Agile Inventory Management

Infor April 2018 Thought Starter Web Header 4 Best Practices for Agile Inventory Management (2)

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Build Agile Inventory Management

Distributors are in constant fluctuation when it comes to managing their inventory. The balancing act of leveling the scale to balance the money they have tied up in inventory and customer service levels is a sham. Distributors realize that to be successful in agile inventory management requires a syncretization of both supply & demand data across their global supply chain.

 

The strategies outlined within this handbook, aim at increasing decision-making agility, can be highly rewarding. In fact, a global pharmaceutical company saved $7 million dollars in 2 years through reductions in working capital, backorders, and penalties.

 

By following these four best practices Distributors are able to become more agile in their Inventory Management:

  • Deploy end-to-end supply chain visibility
  • Use real-time analysis to profitably fulfill demand
  • Challenge your assumptions with data science
  • Keep people in the equation

 

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