What’s in your holiday stocking?

Business and profits can increase in the coming year, new products can soar to unexpected heights, inventories can shrink (in a good way) and productivity can reach an all-time high. Now here’s the bad news: none of these things will be delivered into the stocking hung on the fireplace mantel by some jolly fat man in a soot-stained red suit.

Why have inventory?

Inventory is a fact of business life for every manufacturer, distributor, retailer or any other business that deals with a physical product. Acquiring, handling and managing inventory is a significant expense. Most businesses are constantly looking for ways to reduce inventory.

10 million iPhones

Just three days after the launch the entire initial stock planned for the release of the Apple iPhone 6 was committed – someone had to forecast what the demand would be.

Suppliers vs. Partners

Your business has suppliers that provide you with materials, parts, products, supplies and services — there’s no relationship beyond the transactions themselves. But there are other suppliers with which you have an ongoing relationship.

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