We all deal with inventory issues everyday. How we deal with these issues will frequently determine our success.
In some cases it’s quite obvious. An apparel company needs to make sure they have enough inventory on hand to meet the demand but not so much as to impact profits.
A hotel has a certain number of hotel rooms available and those not used are lost for good.
A restaurant has to plan for the inventory of food and also the inventory of available seating opportunities.
A college coach has to allocate a certain number of scholarships and also a certain number of hours per day and week.
Those who can manage their inventories properly have a much greater likelihood of success than those who are constantly reacting to their inventory issues.
An organization can get by without a handle on their inventory but it will be extremely difficult to thrive without a mastery of their inventory.
Have a great day