For a wholesale distributor, effective inventory management is crucial for maintaining profitability and meeting customer demands. Here are some key questions to ask about inventory management:
Inventory Optimization:
How do you determine the optimal levels of inventory for each product?
What methods or tools do you use to forecast demand accurately?
How do you handle seasonal fluctuations or changes in customer preferences?
Supplier Relationships:
How do you manage relationships with suppliers to ensure timely deliveries and minimize stockouts?
Do you have backup suppliers or contingency plans in case of disruptions in the supply chain?
How do you negotiate pricing and terms to optimize inventory costs?
Inventory Tracking and Visibility:
What systems or software do you use for inventory tracking and management?
Can you provide real-time visibility into inventory levels across multiple warehouses or locations?
How do you handle batch or lot tracking for traceability purposes?
Inventory Turnover and Dead Stock:
How do you monitor inventory turnover rates and identify slow-moving or obsolete stock?
What strategies do you employ to reduce excess inventory and minimize holding costs?
Do you have processes in place for liquidating dead stock or repurposing it effectively?
Order Fulfillment and Accuracy:
How do you ensure accurate picking, packing, and shipping of orders to minimize errors?
What measures do you have in place to expedite urgent orders or prioritize high-demand items?
Can you provide insights into order lead times and fulfillment efficiency?
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Website : https://nsacom.com/
Contact Us : Infor ERP Support
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