For many organizations, the biggest data challenge isn’t a lack of information—it’s the sheer effort required to piece it all together. And that effort is costing you more than you think. 

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Optimizing inventory, like most problem-solving, requires a thoughtful process and a few steps. Naturally, the easiest way to prevent backorders is to always have a lot of inventory on hand. There are ramifications for not optimizing inventory, though. By overproducing and maintaining high of inventory levels, products could spoil or even decay. Excess inventory not only creates costs today, it also generates hidden costs later if you need to produce more goods to replace products that sat on the shelf for too long. Read more…