THEORETICAL FRAMEWORK CONSTRUCT OF THE STUDY:

According to CHARLES MOWEN, Nearly 81% of consumers experienced an “out-of-

stock” situation in the past 12 months, resulting in lost sales for retailers and lots of
disappointment for in-store shoppers. Globally, retailers recorded losses of a whopping
$1.75 trillion due to mismanaged inventory.

If you are still managing your inventory on a spreadsheet or worse, not managing at all,
then your business might be suffering and it’s high time that you streamline your
Inventory Management processes. Managing inventory can be very challenging, and
when you are a growing business it can be really painful.

If you are facing issues in tracking your inventory and if it is getting difficult for you to
optimize your warehouses and storage facilities then you have come to the right place.

Effective management of inventory helps in reducing costs which further keeps accounts
and finances in check.

From a customer’s point of view, it helps you to provide better customer services through
fast delivery and low shipping charges, hence, meeting customer expectations.

Here’s how inventory management solution can help you achieve these benefits: 5
importance of inventory management
Today, Stock management has become vital for the survival of an organization. If you
don’t have good control over your inventory, the day is not far when you will lose control
of your profits.

Don’t let inventory excess or shortages decide your future. Invest in a good inventory
management solution.