Inventory control isn’t just an issue for small business owners, it has almost shut the doors of major corporations. According to reporting by Business 2 Community, JP Morgan lost a staggering $6 billion in 2012 due to inventory spreadsheet errors. They also report that Hershey’s once failed to deliver $100 million in candy to stores in time for Halloween due to a failure in their supply chain system. It’s easy to see how quickly poor inventory control can put your business into an unstoppable free-fall, but difficult to know how to actually tackle it.
From the automotive business to medical field, there are ways to get a better handle on your inventory to keep your business running smoothly and profits intact.…Continue reading