What do you do if your inventory storage decisions are impacting your bottom line?
When your inventory storage decisions begin to negatively affect your bottom line, it's a clear sign that it's time to reassess your approach. Inventory management is a critical aspect of running a successful business, as it involves the oversight and control of the ordering, storage, and use of components that a company uses in the production of the items it sells. It also encompasses the management of finished products, warehousing, and the logistics of processing and delivering orders. A misstep in inventory management can lead to either excess inventory and high holding costs or stockouts and lost sales, both of which can eat into your profits.