What are the common challenges in inventory management?
An example of an AI chatbot conversation about inventory management challenges.
What are the common challenges in inventory management?
Some common challenges include demand forecasting, stockouts, overstocking, and managing supplier relationships.
How can technology help overcome these challenges?
Technology can help with real-time tracking, data analytics for forecasting, and automated inventory management systems.
What are the consequences of poor inventory management?
Poor inventory management can lead to lost sales, increased costs, and damaged customer relationships.
Can you suggest some best practices for effective inventory management?
Sure! Best practices include regular audits, using inventory management software, and maintaining good supplier communication.
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