From an accounting perspective, inventory is considered an asset.1 At the same time, many businesses have embraced lean approaches, striving to minimize inventory at every stage of their operation. Inventory only really matters when it’s converted into sales. Inventory is the product, after all, and how we make money. However, for most businesses, managing inventory is also a burdensome activity. It seems that in the management of inventory, we are always left with unsatisfactory choices.
In this white paper we will discuss the challenges and strategies for solving the inventory dilemma, especially considering today’s web‐based and Omnichannel businesses. We will, we hope, broaden your view of what it means to manage inventory—looking not just at the physical, but the financial and strategic decisions involved in inventory management. We will look at current supply chainwide techniques that need to be mastered such as drop ship, configure to order, and so on. We will also show how technology can be used to address these various facets of inventory management to achieve your financial and customer‐satisfaction goals.