Stock management is essential for ensuring that you have the right products available to meet customer demand while minimizing costs and waste.
Effective stock management is crucial for:
- Meeting customer demand: Ensuring that you have sufficient stock to meet customer orders and avoid lost sales.
- Preventing stockouts: Avoiding situations where products are out of stock, which can lead to customer dissatisfaction and lost sales.
- Improving cash flow: Managing inventory effectively can help to improve your cash flow by reducing the amount of money tied up in stock.
Making informed purchasing decisions: Having accurate stock information can help you make informed decisions about purchasing new inventory.
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