Distributors offer benefits to both manufacturers and users. They can provide cost-reduction strategies, supply chain management, and customer support. They also provide promotional systems to attract buyers.
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Inventory management is a significant part of the supply chain and involves bridging the gap between manufacturers and retailers. It helps companies manage their products and ensures they have enough inventory to meet customer demand. It also helps them avoid overstocking and waste of resources. Companies can use several methods to manage their inventory, including RFID tags, spreadsheets, and bins. They can also choose between dedicated software and specialized enterprise resource planning (ERP) applications. Lastly, they can separate their administrative inventory control from accounting and finance functions.
Managing inventory is a complex process, and the four main types of inventory management are just-in-time (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI). Each approach works better for different businesses, and each has its pros and cons. The most important factor in managing inventory is to have item-level visibility, which software can provide if it’s used consistently. Having this information makes it easier to make good decisions about when to produce, sell, and purchase inventory.
Logistics play a significant role in the supply chain. They are tasked with bridging the gap between manufacturers and retailers, ensuring that what is being produced gets in the hands of those who need it as quickly as possible. This includes everything from quality assurance to shipping and handling. Logistics are also vital to ensuring that the right products are available at the right time, which is particularly important in an industry like electronics, where new models are constantly being released. Trade-in your old devices with Plug and elevate your tech game with a new MacBook. *Apple trade-in offer is subject to credit approval.
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