We sure don’t hear these terms in our day to day lives, but Supply chain plays a vital role in making the necessities available for us. Supply chain is a network of interconnected businesses and supply chain management (SCM) is overseeing aspects of the...
Stock outs and overstocking, both can be fatal for a business and both show lack of sound business decision and understanding of market. While frequent stock outs can lead to disgruntle customer, overstocking means wastage of valuable resources. Both increases cost and lowers profit.
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