What role does technology play in modern inventory optimization practices?
Inventory management, a critical component of supply chain operations, has been revolutionized by technology. In the past, keeping track of stock involved manual counts and ledgers, but today's digital solutions offer real-time visibility and control. By leveraging advancements in software and hardware, businesses can now optimize their inventory levels with unprecedented precision, reducing waste and ensuring that products are available when and where they're needed. This integration of technology streamlines operations, cuts costs, and enhances customer satisfaction by minimizing stockouts and overstock situations.