Supply chains at all levels are upended. Bridget McCrea shares five inventory management strategies organizations can use now to manage current volatility and optimize for the future. Businesses need accurate data to review historical activity, run projections and make good inventory management decisions. This is a time for great creativity and flexibility on the inventory management front she says.
Source: Logistics Management, October 12, 2021. Link.
INSIGHTS: For animal health pros, 2020 data may not provide a reliable current year vs. prior year comparison. Using 2019 data with 2020 data can be helpful to establish dependable baseline SKU by SKU usage. That baseline needs to be updated with growth factors from the addition of new clients and pets over the past year.