How do you pick the right KPIs for inventory management?
Inventory management is the process of planning, organizing, and controlling the flow of goods and materials in a business. It involves balancing the supply and demand of inventory, minimizing costs and waste, and optimizing customer service and satisfaction. To measure the performance and efficiency of inventory management, you need to use key performance indicators (KPIs). KPIs are quantifiable metrics that reflect how well you are achieving your inventory goals and objectives. But how do you pick the right KPIs for inventory management? Here are some tips and examples to help you.