Invisible inventory is unaccounted inventory, materials or items in the supply chain due to inadequate inventory management processes. Misdirected returned products, misplaced scanning equipment, inadequate receiving schedules, and other factors can all contribute to this.
Implementing inventory tracking technologies can help companies be 20% more efficient, grant access to real-time stock levels and historical sales data. Cloud-based POS systems and e-commerce management solution software are the future of inventory technologies. These technologies will streamline the individual component, sub-assembly and final product tracking. These innovations integrate every business aspect for greater efficiency and offers a range of beneficial capabilities. With live, responsive supply chains, a company could see increased transparency within its inbound/outbound processes and other daily activities.
For other ways to stay ahead of the curve when it comes to managing your inventory, check out the resource below.