What Challenges Do Business Leaders Face in Inventory Management?
Business leaders encounter several challenges in inventory management, including:
Supply Chain Disruptions: Natural disasters, political instability, or supplier issues can affect the availability of inventory. Demand Variability: Fluctuations in customer demand can make it difficult to maintain optimal inventory levels. Inventory Accuracy: Inaccurate inventory records can lead to stockouts or overstocking, impacting financial performance. Cost Management: Balancing the costs associated with purchasing, holding, and managing inventory is a continuous challenge.