What are some effective inventory optimization strategies?
An example of an AI chatbot conversation about inventory optimization strategies.
What are some effective inventory optimization strategies?
Effective strategies include demand forecasting, just-in-time inventory, and safety stock management.
How can demand forecasting improve my inventory management?
Demand forecasting helps predict customer needs, reducing excess stock and stockouts.
What tools can I use for demand forecasting?
You can use tools like SAP Integrated Business Planning, Oracle Demand Management, or Excel for simpler needs.
Can you explain just-in-time inventory?
Just-in-time inventory minimizes holding costs by receiving goods only as they are needed in the production process.
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