What are the best practices for inventory control?
An example of an AI chatbot conversation about effective inventory management techniques.
What are the best practices for inventory control?
Some best practices include regular audits, using inventory management software, and maintaining optimal stock levels.
How often should I conduct inventory audits?
It's recommended to conduct audits at least quarterly, but monthly audits can help catch discrepancies sooner.
What software do you recommend for inventory management?
Popular options include TradeGecko, Zoho Inventory, and QuickBooks Commerce, depending on your business size.
How can I reduce excess inventory?
You can reduce excess inventory by analyzing sales trends, improving demand forecasting, and offering promotions.
What metrics should I track for inventory control?
Key metrics include inventory turnover ratio, carrying cost of inventory, and stockout rate.
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