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Top 5 Inventory Mistakes and How to Avoid Them

Top 5 Inventory Mistakes and How to Avoid Them

Days before the solar eclipse of 2017 it became nearly impossible to purchase the special glasses needed to safely observe the event. People rushing from store to store in a frenzy trying to locate the last available pair of glasses, found the stores had just not planned well… they had nothing left. It got so bad that some stores reported customers coming to blows as they fought over the remaining items. To make matters worse, Amazon and Walmart had to let customers know that the glasses they purchased might not be safe. Some brands were not made to the proper specifications and could not be trusted. Walmart reported another problem… the stock they had ordered never arrived. That should not have happened at Walmart, a store known for its amazing supply chain. They manage over 11,000 stores in 27 countries, requiring a technological tour de force that rarely lets them down. Balancing supply and demand completely overwhelmed most retail and manufacturing entities. Somehow, their systems failed them. Inventory planning and management are among the most important tasks, as this event clearly demonstrated. When not managed well, the failure can be catastrophic. Rootstock recently conducted a webinar designed to identify 5 […]