What are Common Inventory Management Challenges for Entrepreneurs?
Despite the availability of tools and strategies, entrepreneurs often face several challenges in inventory management, such as:
Capital Constraints: Limited financial resources can make it difficult to invest in advanced inventory management systems. Supply Chain Disruptions: Unexpected delays or issues with suppliers can lead to stockouts or overstock situations. Demand Forecasting: Accurately predicting customer demand can be challenging, especially for new businesses without historical data. Storage Space: Limited warehousing space can restrict the amount of inventory a business can hold, complicating stock management.