Every company that carries inventory knows how challenging it can be to properly manage that inventory. Of course, you have to make sure there’s enough product on hand to meet shifting consumer demand, but overstocking can lead to unwanted waste; and, according to a report from materials supplier Avery Dennison, there’s plenty of that happening. On average, 8% of stock perishes or is thrown away every year, which adds up to a shocking $163 billion in wasted inventory. Every. Year.
No company can survive the costs and pitfalls of poor inventory management….
