Data will revolutionize inventory management
Summary
Since disruptions can cause inventory shortages or excesses that are discovered long after they’ve taken place, businesses need to get ahead of supply chain issues by collecting, classifying and structuring data. Next-generation analytical and planning tools interpret vast volumes of data so that retailers can predict and react to disruptions before they affect inventory levels. Digitization reduces manual tasks, freeing up employee time to focus on innovating, managing relationships and improving output. Even better, AI and machine learning can help to make decisions that reduce safety stock levels and carrying costs, and increase inventory turns. As a business solution expert for the global consumer goods industry, Paula Biste has been advising companies on software technology applications for the last 15 years.
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