For manufacturing and distribution companies, strong management of inventory systems is a must. This was made only more evident by the coronavirus pandemic, which threw a wrench in the operations of many organizations. In a recent article for the Boston Business Journal, author Dennis Finnegan and Justin Provencher offer valuable advice for shoring up inventory management strategies.
The authors suggest that manufacturers consider implementing the following strategies for inventory management:
In order to remain afloat in the midst of the many unknowns that the pandemic has produced, it is important for manufacturers to give special attention to optimizing inventory management.
For further details, click here to read the article in full at the Boston Business Journal.