In a healthy business, much like in a healthy body, everything that goes in and goes out has to be kept in careful balance in order for things to continue running smoothly. In your business, it’s known as inventory management. It’s measured by how good you are at reducing inventory investment while continuing to meet your customer service goals. Perfectly balanced inventory management plays a vital role in the continued success of your business. However, when there is an imbalance, the symptoms are obvious:
Inefficiencies across your business are undermining profits and growth potential.
Your business has lost agility and responsiveness and has become more complex, forcing you to spend more time on non-productive tasks.
Getting real-time insight into operations is causing major headaches because organizational growth has resulted in your business relying on loosely integrated management tools.
Sound familiar? It’s not surprising that so many small and medium companies find it difficult to strike a healthy balance with all of the conflicting objectives across different parts of their business.
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As the world continues to respond to the effect of the COVID-19 pandemic, more organizations have established remote working protocols to slow the spread and promote our safe recovery. As a result, an increasing number of businesses are choosing software-as-a-service (SaaS) solutions for financial management and the security of their business data. SaaS refers to