While inventory’s purpose is to be sold, the amount of profit business achieves is largely based on how well inventory is managed.- from the purchasing of inventory to inventory control & warehouse management, to the dispensing and finally the post sales activities, such as customer service and return management. Today’s multi-channel market place compounds this issue. The need to get the right product at the right place with a strict deadline is critical to the success of business, due to heightened customer’s expectations. Inventory optimization processes are becoming a critical requirement due to increase in customer’s demand, expanding product portfolios and lengthening supply chains. Effective inventory management is the best way for organizations to free up capital, avoid pilferage issue, boost service levels and free up time for employees to focus on value adding tasks. 

We at Pak Health Consultants analyzes inventory management challenges faced by Organizations in this modern era and provide their proposed solutions in order to help the business entities to shift their primary focus on their core areas of health care. 

Business entities nowadays have daunting task of watching out for unique inventory management challenges within their supply chain that are caused by poor inventory management. There is more to inventory management than just keeping track of what enters and exits your business. These inventory management challenges can easily be prevented and transformed into opportunities.

Following are the common inventory management challenges that need to be identified to effectively optimize your inventory:

• a) Low product turnover
• b) Excess inventory 
• c) Failure to keep track of stock
• d) Poor service levels
• e) Difficulty in identifying demand patterns
• f) Lack of visibility