How the inventory are control as per target

Question

Accepted Answer

Inventory control is achieved by setting targets and implementing various strategies and processes.

Set inventory targets based on demand forecasts and sales projections
Implement a robust inventory management system to track stock levels and movements
Regularly monitor inventory levels and compare them to the set targets
Analyze inventory data to identify trends, patterns, and potential issues
Implement strategies like just-in-time inventory, safety stock, and reorder points
Optimize procurement and production processes to minimize excess inventory
Collaborate with suppliers and vendors to ensure timely delivery and avoid stockouts
Implement effective inventory control policies and procedures
Train and educate staff on inventory management best practices

Accepted Answer

The Inventory Target is an input key figure, manually added by planners or via calculations, which represent your safety stock per period.

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