What is enhanced supply chain visibility and why is it important?

Enhanced supply chain visibility refers to the ability to track products and materials throughout the entire supply chain process. It is important because it allows businesses to respond quickly to changes, reduce delays, improve customer satisfaction, and optimise inventory levels.

What tools can improve tracking and transparency in inventory management?

Various tools can enhance tracking and transparency, including barcode scanners, RFID technology, and inventory management software that provide real-time data, analytics, and reporting capabilities.

How is mobile technology being utilised in inventory management?

Mobile technology is utilised in inventory management through the use of smartphones and tablets equipped with inventory management apps, allowing for real-time tracking, order management, and data access from anywhere, improving efficiency and accuracy.

What are the advantages of Just-In-Time (JIT) inventory management?

The advantages of JIT inventory management include reduced holding costs, minimised waste, improved cash flow, and enhanced responsiveness to customer demand, as products are ordered and produced only as needed.

What challenges are associated with implementing Just-In-Time inventory systems?

Challenges of implementing JIT systems include reliance on reliable suppliers, the risk of stockouts, potential disruptions in the supply chain, and the need for precise demand forecasting to avoid overproduction or shortages.

Roundup of Latest Trends in Inventory Management

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