#1 on our list of logistics best practices is:
1. Inventory
is planned according to the best information available from forecasts of known
accuracy and market information from suppliers, marketing, the sales force and
customer feedback.
There is no more important activity in
the whole of supply chain than inventory planning. Correctly determining when and how much stock
should be procured will impact every other supply chain activity and affect the
value an organisation provides both in cost and service delivery to the market.