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The 6 Main classifications of inventory

Average reading time 12 minutes Inventory is a necessary evil in any organization engaged in production, sale or trading of products. In business, inventory may be defined as the goods held for sale in the ordinary course of business or the goods that are used to manufacture goods to be sold. Inventories usually make up…

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Why Supply Chain Management is important

Estimated reading time: 6 minutes Supply chain management is important because it increases customer satisfaction & competitiveness. The success of the business links inextricably to the performance of their supply chain. A survey by done Deloitte showed that 79% of companies with high-performing supply chains achieve revenue growth superior to the average within their industries.…

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Benefits of Benchmarking in Supply Chain Management

Estimated reading time: 4 minutes   In supply chain management, benchmarking is critical to establish resilient operations and to be cost-competitive. With the utilisation of historical information to identify standards and best practices, it enables comparison of past projects’ performance with present projects, allowing for a more informed analysis of the next step to be…

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