Review:
Inventory Optimization
overall review score: 4.5
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score is between 0 and 5
Inventory optimization is the process of balancing the costs of carrying inventory against the benefits of having sufficient stock available to meet customer demand.
Key Features
- Demand forecasting
- Reorder point determination
- Safety stock management
- Lead time analysis
Pros
- Reduces excess inventory levels
- Improves customer service levels
- Enhances supply chain efficiency
Cons
- Requires accurate demand forecasting data
- Initial implementation can be time-consuming and costly