What are the risks of poor inventory management?
An example of an AI chatbot conversation about risks of poor inventory management.
What are the risks of poor inventory management?
Poor inventory management can lead to stockouts, excess inventory, increased costs, and lost sales.
Can you explain how stockouts affect a business?
Stockouts can result in lost sales, dissatisfied customers, and damage to your brand's reputation.
What about excess inventory? What problems does it cause?
Excess inventory ties up capital, increases storage costs, and can lead to obsolescence.
How can businesses improve their inventory management?
Businesses can improve inventory management by using software tools, forecasting demand, and regularly reviewing stock levels.
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