Top 10 Consequences of NOT Having Inventory Management

TOP 10 CONSEQUENCES OF NOT HAVING INVENTORY MANAGEMENT 1 I INCREASED 2 IMPOSSIBLE TO CONFLICTING 5 VENDOR COSTS TRACK INVENTORY CUSTOMER RELATIONS Without access to real time You'll spend unnecessary amounts of money on items that will not information you won't know how or where products move, so theft, obsolete items, etc. will make tracking inventory nearly impossible. profit your business. COSTS The more energy customers use to make sure you're filling their orders correctly, the more unsatisfied they become. Not being able to ship or deliver on time results in rocky relationships 3 LACK OF 4 TIME INVENTORY BALANCE CONSUMING A lack of inventory balance makes product shortages and overstocking Valuable time and human capital is being spent completing tasks a unavoidable. and decreases system could manage. customer loyalty. 6 6 DECREASED EMPLOYEE 7 INEFFECTIVE DECISION MAKING 8. 8 DECREASED WAREHOUSE ORGANIZATION PRODUCTIVITY When you lack the fluidity an inventory management system, introduces your space becomes cluttered and difficult to effectively work in. BAD WORST WORSE POOR Without having the resources to analyze inventory trends, you will unknowingly make decisions that don't provide the greatest return. ll ll ll 9 10 DELAYS IN SHIPPING AND DELIVERY 9 INCREASED LEAD TIMES AND STOCK-OUTS Difficulty in tracking inventory results in running out of stock when it is needed, causing you to increase lead time times, ultimately disappointing the customer. Difficulty in tracking inventory results in shipping and delivery delays caused by orders not being replenished on time or items being unavailable when they're When employees are continuously completing tasks that could be quickly managed by a system they become inefficient in the needed. Expect Delays workplace. clear spider © 2014 by Clear Spider www.clearspider.com