Recently it has been recorded that the Inventory Build Up process in Manufacturing and other industries had become an hidden treat to the companies.
The stock pile up occurs due to Supplier’s inefficiency and also in some cases due to bad quality.
This is directly proportional on choosing the right vendor who can be trusted and reliable in supplying the raw materials.
The inventory cost increases resulting in storage of huge unsold stocks which leads to a lot of business failure, because the supplier would never been crossed the threshold level by then.
Also in some cases the production delays can lead to build up inventories too. Production delays occur with various reasons like
- Product Bad Design
- Messed Up Production Layout.
- Breakdown Stoppage
- Delayed and Time Consuming
- Resource Management
- Floor Management.
The above factors can be related to all the stages of production Life Cycle.
In any business the amount of profit is analyzed based on the products sold and how well the inventory is managed. The Product Life cycle will come across different stages like
- Purchase of Inventory
- Warehouse Management
- Goods Shipping
- Customer Service
- Product Returns Management
But for large sellers there will also be these two options like either Out of Stock or Stock Overflow. Considering the challenges and pain areas of any business and to provide them with a proper solution, we at EZ Accounting software came out with the right Inventory management software termed as “EZ Inventory”. To support the customers and to make them know about our product we also provide Free Demo. Please don’t hesitate to log on to https://www.ezaccounting.com.sg/
Also our staffs will be happy to serve you at all times. You can reach them on + 65 6227 1797 / +65 6746 2613
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