Inventory Optimization

Wikipedia defines inventory optimization as “a method of balancing capital investment constraints or objectives and service-level goals over a large assortment of stock-keeping units (SKUs) while taking demand and supply volatility into account.”

Not to be confused with inventory management, wherein it involves supervising, storing, organizing and moving a company’s inventory.
Inventory optimization is ordering the right products at the right amount to meet target demands while being cost effective.

There are three key techniques to optimizing your inventory:

1. Demand forecasting
2. Inventory policy
3. Replenishment

The Balance Small Business “Inventory Optimization for Small Business”

Silicon Harbor Business Services is based in Mount Pleasant, SC.  We provide solid, practical advice to small business owners and select individuals.  

We work with Quickbooks Online, Quickbooks Desktop and Quickbooks Enterprise. For Quickbooks Online, we work with clients in Mount Pleasant, Charleston, Philadelphia, and across the US. For Quickbooks Desktop and Quickbooks Enterprise, we only work locally in the Charleston, SC area.

For a complete list of our services, please click here. If you have any questions about online bookkeeping or business consultancy, we’d love to hear from you. Please contact us here.

Leave a Reply

Your email address will not be published. Required fields are marked *

Search

+