Understand the power of safety stock and how to calculate it.
How do you know when there is enough inventory to meet demand? When is the right time to buy? How much should be purchased? Holding too much inventory consumes cash and space and may lead to shrinkage and obsolescence while holding too little leads to backorders, production delays, expedited shipping, and unhappy customers. This course will explore inventory and purchasing concepts and review how to use data to glean insight about your products and establish a systematic approach to purchasing.
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