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Tackling Inventory Dilemmas in a Connected World

Sikich

Mar 30 2018

2 min read

Tackle Inventory Dilemmas in this Connected World

Master current supply-chain wide trends and techniques with ERP software in this downloadable eBook

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Topics Inside the Book

Inventory is important for sales conversions. When a customer is served quickly and without much difficulty, the chances of them being a repeat buyer goes up. The problem is inventory can tie up working capital if the product sits in your warehouses. Even with the advances with the data science and art of institutional knowledge, companies can struggle to keep up with the pace of globalization.

The platform that sits at the center of connected companies is enterprise-grade technology. The scale even small to medium businesses need to wrap their heads around keeps growing with the ever expanding global markets, demands precise software. With an modern ERP system, managing inventory across locations, vendors, partners and customers can be accomplished.

Challenges come from a variety of sources. Raw material shortages can impact speed to service. Regulations can cause a myriad of red tape, but keeps people safe in industries like medical devices. To overcome some of these challenges, technology based on the Internet of Things (IoT) is charting a new course for suppliers.

With more capabilities comes higher cost, right? Not always. With cloud-based platforms, your organization can control the data and size of your implementation as your company adjusts to these turbulent and fast-paced times. Knowing what options are available will guide your decision making towards what makes sense for your organization.

This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 